India's United Spirits continues post-earnings rally to record high

United Spirits

25/07/2024 09:55

** Shares of United Spirits  UNSP.NS  rise as much as 4.2%
to a record high of 1,442 rupees
    ** UNSP has gained over 8% since beating Q1 profit estimates
on Tuesday
    ** Nuvama Institutional Equities upgrades stock to "buy"
from "hold"; sets Street-high TP of 1,630 rupees
    ** See UNSP benefitting from huge headroom in new premium
categories, including tequila and craft spirits, alongside
upcoming wedding and festive season
    ** Also expects Andhra Pradesh state to cut taxes,
benefiting large alcohol players like UNSP
    ** Trading vol 2x the 30-day avg but under half of Wed's vol
    ** Stock up 30% so far this year


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