United Spirits shares gain 3% on reports of potential RCB stake sale by parent Diageo
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Shares of United Spirits Ltd (USL) jumped as much as 3.2% to hit a day’s high of Rs 1,644 on the BSE in Tuesday’s session, following a Bloomberg report that its parent company Diageo Plc is considering a potential stake sale in the IPL 2025-winning franchise, Royal Challengers Bengaluru (RCB). According to the report, Diageo is exploring various options for its ownership in the high-profile cricket team, which it controls through United Spirits. The British liquor giant is reportedly in discussions with advisers to evaluate the sale of either a partial or full stake in RCB. Sources familiar with the matter indicated that Diageo may seek a valuation of up to $2 billion for the franchise. While the deliberations are still at an early stage and no final decision has been made, the possibility of a stake sale has drawn strong market interest. The development comes amid rising regulatory scrutiny in India over the indirect promotion of alcohol...