Tuesday, July 16, 2024

United Spirits share price: Buy United Spirits, target price Rs 715: Yes Securities

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Yes Securities has buy call on with a target price of Rs 715. The current market price of United Spirits Ltd. is Rs 675.85. Time period given by analyst is Intra Day when United Spirits Ltd. price can reach defined target.

United Spirits Ltd., incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 49022.68 Crore) operating in Beverages – Alcoholic sector.Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2235.00 Crore, down -16.97 % from last quarter Total Income of Rs 2691.80 Crore and up 11.84 % from last year same quarter Total Income of Rs 1998.40 Crore. Company reported net profit after tax of Rs 203.30 Crore in latest quarter.


Investment Rationale
The stock has turned upwards after taking support at the 50-DMA, which also happens to be the 23.6% Fibonacci retracement level. Further, it continues to make higher highs and higher lows, suggesting bullishness. RSI has also turned upwards from the lower end of the bull zone, i.e., 40 suggesting an up move from here on.


Promoter/FII Holdings
Promoters held 56.8 per cent stake in the company as of Dec 30, 2020, while FIIs held 19 per cent, DIIs 9.8 per cent and public and others 14.5 per cent.

The above news was originally posted on economictimes.indiatimes.com

(Source Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)

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