Rupee gains; around $300 million flows from Diageo seen

United Spirits approved the allotment of 14.5 million shares on a preferential basis to a wholly owned unit of UK drinks group Diageo Plc.

June 28, 2013 / 16:27 IST

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The rupee gains as stocks post strong rally and on corporate flows, dealers say. The pair is at 59.76/77, retreating from its close of 60.19/20 on Thursday.

Also read: EMs haven't lost sheen yet; cherry pick stocks: Nilesh Shah

Dealers cite inflows related to Diageo Plc's stake purchase in United Spirits. They estimate the flow size at around USD 300 million.

United Spirits approved the allotment of 14.5 million shares on a preferential basis to a wholly owned unit of UK drinks group Diageo Plc , as part of an around USD 2.1 billion stake sale announced in November last year.

first published: Jun 28, 2013 01:19 pm

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Rupee gains; around &#36;300 million flows from Diageo seen

United Spirits approved the allotment of 14.5 million shares on a preferential basis to a wholly owned unit of UK drinks group Diageo Plc.

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Rupee gains; around $300 million flows from Diageo seen