Damani Estate buys United Spirits shares worth Rs 7 crore

Damani Estate & Finance today picked up 33,500 shares of United Spirits, the maker of McDowell's and Bagpiper whiskies, for over Rs 7 crore.

Damani bought the shares from Bright Star Investments through open market transactions, stock exchange data showed.

The shares were purchased at an average price of Rs 2,149, valuing the transaction at Rs 7.19 crore.

In a separate block deal, Bright Star Investments acquired 40 lakh shares of TV18 Broadcast for about Rs 7 crore. The shares were picked up at an average price of Rs 17.65 apiece from Damani.

This was in addition to 25 lakh shares of TV18 Broadcast acquired by Bright Star Investments for an amount of Rs 4.25 crore on Thursday.

United Spirits shares rose by 2.51 per cent to close at Rs 2,208.35 apiece on the BSE, while scrips of TV18 Broadcast inched up 0.85 per cent to finish the trade at Rs 17.75 apiece on the bourse.