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    Buy United Spirits, target price Rs 900: ICICI Direct

    Synopsis

    ICICI Direct remains positive on the long term growth prospects of the stock.

    United SpiritsiStock
    United Spirits, incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 55845.82 Crore) operating in Beverages - Alcoholic sector.
    ICICI Direct has buy call on United Spirits with a target price of Rs 900. The current market price of United Spirits is Rs 749.75.Time period given by analyst is month when United Spirits price can reach defined target.


    United Spirits, incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 55845.82 Crore) operating in Beverages - Alcoholic sector.

    United Spirits key Products/Revenue Segments include Beverages (Alcohol), Income From Franchise, Scrap and Other Operating Revenue for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 2800.00 Crore, down -4.06 % from last quarter Total Income of Rs 2918.60 Crore and down -5.00 % from last year same quarter Total Income of Rs 2947.50 Crore. Company has reported net profit after tax of Rs 214.40 Crore in latest quarter.

    The company’s top management includes Mr.Mahendra Kumar Sharma, Ms.Hina Nagarajan, Dr.(Mrs.)Indu Shahani, Mr.D Sivanandhan, Mr.Rajeev Gupta, Mr.V K Viswanathan, Mr.John Thomas Kennedy, Mr.Mark Dominic Sandys, Mr.Randall David Ingber. Company has Price Waterhouse & Co Chartered Accountants LLP as its auditors. As on 31-12-2022, the company has a total of 73 Crore shares outstanding.

    Investment Rationale
    Although inflation continues to remain strong in the near to medium term, the company continues to revamp its existing premium portfolio, introduce newer brands, control costs and seek price hikes from states. Delhi RTM one-offs are expected to continue till next two quarters, said the brokerage. ICICI Direct remains positive on the long term growth prospects of the stock and hence maintains a Buy call.




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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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