ED attaches Mallya's properties and shares worth Rs 6,630 crore
ED attaches Mallya's properties and shares worth Rs 6,630 croreThings ED attached include Mallya's farmhouse worth Rs 200 cr, apartment and mall in B'glore worth Rs 800 cr and shares of UBL and USL, worth Rs 3,000 cr. Buy United Spirits Ltd., target Rs 2455.0 : Rakesh Bansal
Buy United Spirits Ltd. at a price target of Rs 2455.0 and a stop loss at Rs 2290.0 from entry point Appointment of Director
United Spirits Ltd has informed BSE that the Board of Directors of the Company have passed a resolution in Circulation effective August 17, 2016 and appointed Mr. John Thomas Kennedy (Mr John) a nominee of Relay B V., an indirect wholly owned subsidiary of Diageo pic, as a non-executive non-independent director on the Board of the Company with effect from August 17, 2016. Buy United Spirits., target Rs 2280.0 : Geojit BNP Paribas Financial Services
Buy United Spirits Ltd. at a price target of Rs 2280.0 and a stop loss at Rs 2206.0 from entry point Sell United Spirits Ltd., target Rs 1800.0 : Nooresh Merani
Sell United Spirits Ltd. at a price target of Rs 1800.0 and a stop loss at Rs 2250.0 from entry point Outcome of AGM
United Spirits Ltd has submitted to BSE a copy of the proceedings of the 17th Annual General Meeting (AGM) of the Company held on August July 14, 2016. Notice on additional payments:Diageo set to challenge Sebi's notice on open offer
MUMBAI: Diageo Plc is set to challenge the regulator's notice directing it to make additional payments to minority shareholders of United Spirits Ltd (USL) as the open offer to them had not factored in the bank guarantee provided by the British firm to Watson Ltd, a company affiliated with Vijay Mallya. USL's parent will move a petition before the Securities Appellate Tribunal (SAT) contesting the ruling of the Securities and Exchange Board of India (Sebi) on the grounds that it was based on certain assumptions and without full possession of the facts as there were two separate agreements with Mallya, said people with knowledge of the matter. Diageo took over USL from Mallya in 2013. The regulator is of the view that the bank guarantee provided by Diageo to Mallya was a financial benefit and by not factoring that into the acquisition price it had acted against the interests of the minority shareholders. Diageo said the bank guarantee was not part of the original agreement with Mallya. "The Watson backstop guarantee arrangements were not part of the price paid or agreed to be paid for any USL shares under the original USL transaction and therefore believes the decision in the Sebi notice to be misconceived and wrong in law and it is taking steps to appeal it," said a spokesperson for Diageo. The company didn't comment when asked about appealing against the ruling. A Sebi official declined to comment as the matter is sub judice. Diageo's objection isn't over the monetary component involved. "It is more... Diageo CEO Ivan Menezes says India to be major growth driver this fiscal
BENGALURU: Diageo, the world's largest spirits company, said India will be one of the major growth drivers of the company this fiscal as it looks to sell more of its premium products in a market where consumer dynamics are changing rapidly due to a rising middle class and higher disposable income. The maker of Johnnie Walker scotch and Smirnoff vodka said that India, which contributes about 10 per cent of its sales, will be its third area of focus, the other two being global growth of scotch and improving performance in the US. "Our third area of focus for fiscal '17 is India where consumer dynamics are fuelling premiumization. In fact we view the market as three Indias, with consumers across all income levels on a journey through our brands," according to a presentation in the company's website after its full year results. The three Indias are the affluent, middle and aspiring households. Diageo's net sales from India rose 5 per cent for the year ended March 2016, compared to the year before. That's almost double that of its global net sales, which grew 2.8 per cent for the year ended 30 June. India sales were helped by higher revenue from its premium whiskey and vodka products. The Prestige & Above segment of United Spirits (USL), controlled by Diageo, reported net sales growth of 21 per cent with the relaunch of McDowell's No.1 whisky and Royal Challenge brands. The sales of the two brands grew by 20 per cent and 46 per cent respectively. "Our business... Statement of Investor Complaint under Reg. 13(3) of SEBI (LODR) Regulations, 2015 for Quarter ended June 30, 2016
United Spirits Ltd has informed BSE regarding Quarterly Statement on Investor Complaints / Grievances Redressal Mechanism for the Quarter ended June 30, 2016, under Regulation 13(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Statement on Impact of Audit Qualifications for the period ended March 31, 2016
United Spirits Ltd has submitted to BSE a copy of Standalone & Consolidated Statement on Impact of Audit Qualifications for the period ended March 31, 2016.