India's United Spirits hits one-month high as brokers bet on margin recovery

United Spirits

24/07/2026 08:18

** United Spirits' UNSP.NS shares rise 3.8% to 1,472 rupees, hitting their highest level in over a month 
** Q1 revenue from operations up about 5%; Profit for the period rises 51.6%
** Brokerage Nomura raises its target price to 1,600 rupees from 1,500 rupees and reiterates its "buy" rating, expecting margins to stabilize in Q2 FY27 and improve thereafter as regulatory tailwinds take hold
**  Nomura says excise policy change in Indian state of Karnataka creates a structural tailwind for premiumization as consumers will likely trade up and drive strong volume growth
** J.P. Morgan raises TP to 1,555 rupees from 1,510 rupees and maintains an "overweight" rating, saying near-term margin pressure from crude inflation should be offset by selective price hikes, UK FTA benefits and cost-saving measures
** Seventeen of 24 brokerages rate the stock "buy" or higher; their median PT is 1,560 rupees
** YTD, stock up 1.7%

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.Parmar@thomsonreuters.com;))