Pioneer Distilleries drops 5% as USL to selll stake at discount

Pioneer Distilleries plunged on Tuesday after promoter of United Spirits (USL)fixed a floor price of Rs 38 a share for the stake sale, well below the current market price. As of September 30, United Spirits held 81.99% stake in the company. Shares ofthe companyare trading at Rs 45.65, down Rs 2.4, or 4.99% at the Bombay Stock Exchange (BSE) on Tuesday at 1:31 p.m.The scrip has touched an intra-day high of Rs 48.50 and low of Rs 45.65. The total volume of shares traded at the BSE is 1,426.In the earlier session, the shares declined 4.95%, or Rs 2.5, at Rs 48.05. Currently, the stock is trading down 17% from its 52-week high of Rs 55.00 and above 80.79% over the 52-week low of Rs 25.25.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 43.80 4.25 9.70 1 Month 27.25 20.80 76.33 3 Months 27.55 20.50 74.41 6 Months 34.45 13.60 39.48 1 Year 49.85 (1.80) (3.61) Note: Based on previous day closing price.