India's Radico Khaitan gains on Q1 profit rise

United Spirits

08/08/2024 05:01

** Shares of Radico Khaitan  RADC.NS  rise 2.9% to 1,718
rupees    
    ** Stock top gainer on Nifty FMCG index  .NIFTYFMCG , which
is up 0.14%
    ** The 'Magic Moments' vodka maker reported a 13% surge in
Q1 consol net profit on strong demand for premium alcohol
    ** Co saw 14.3% Y/Y volume growth in its prestige and above
category 
    ** Analysts covering RADC has "Buy" rating on stock, same as
rival United Spirits  UNSP.NS , while United Breweries  UBBW.NS 
rated "Hold"
    ** Median PT for RADC is 1,917.5 rupees - LSEG data
    ** Stock up 8% so far this year vs a ~10% gain in Nifty FMCG
index


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))