United Spirits rallies as Morgan Stanley buys stake

The Economic Times Sept 4
MUMBAI: Shares of United Spirits gained momentum after Morgan Stanley bought additional stake from open market.
Morgan Stanley Asia (Singapore), Morgan Stanley India Capital Private Limited and Morgan Stanley & Co. International plc, have purchased 3,50,000 shares or 0.2408 per cent stake on August 29.
Morgan Stanley’s stake in the company has now increased to 5.0976 per cent from 4.8576 per cent earlier.
Last week, Chennai based Empee DistilleriesBSE 4.90 % entered into an agreement with United Spirits for manufacture of Indian Made Foreign Liquor for distribution in Karnataka. The agreement will initially be for a period of three years.
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