India's United Spirits falls post CEO change; Macquarie keeps 'underperform'

United Spirits

14/01/2025 07:08

** United Spirits  UNSP.NS , British alcohol maker Diageo's
Indian arm, falls 4.77% to 1,412.90 rupees; set for biggest
one-day pct drop in 14 months
    ** Hina Nagarajan resigns as CEO to take another role in
Diageo; HT Media  HTML.NS  boss Praveen Someshwar to replace
Nagarajan
    ** Macquarie maintains "underperform" post CEO change; says
smooth transition key to ensure no hurdles in "growth journey"
    ** UNSP climbed ~160% since April 2021, when Nagarajan
took the top job, with premium-end alcohol growth booming in her
tenure
    ** Stock extends 12-month loss to ~13%

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))