Buy United Spirits, target price Rs 660: Motilal Oswal

Buy United Spirits, target price Rs 660:  Motilal Oswal

Motilal Oswal has buy call on United Spirits Ltd. with a target price of Rs 660. The current market price of United Spirits Ltd. is Rs 639.45.

United Spirits Ltd., incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 46312.32 Crore) operating in Beverages – Alcoholic sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2196.00 Crore, up 112.81 % from last quarter Sales of Rs 1031.90 Crore and down -5.11 % from last year same quarter Sales of Rs 2314.20 Crore. Company reported net profit after tax of Rs 125.50 Crore in latest quarter.

Investment Rationale
Breakout on weekly scale and looks for an upside once it surpasses 645 zones.

Promoter/FII Holdings
Promoters held 56.8 per cent stake in the company as of Sept 30, 2020, while FIIs held 18.8 per cent, DIIs 7.5 per cent and public and others 16.9 per cent.

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