Buy United Breweries, target price Rs 1090: Kotak Securities

Kotak Securities has given a buy rating to United Breweries with a target price of Rs 1090. The share price moved up by 0.18 per cent from its previous close of Rs 1055.55. The stock’s last traded price is Rs 1057.40.

United Breweries Ltd., incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 28104.95 Crore) operating in Beverages - Alcoholic sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 899.90 Crore, down 28.74 % from last quarter Sales of Rs 1262.82 Crore and down 43.03 % from last year same quarter Sales of Rs 1579.55 Crore Company reported net profit after tax of Rs 3.61 Crore in latest quarter.


Investment Rationale
The stock has formed strong higher bottom series formation on daily and intraday charts.

Promoter/FII Holdings
Promoters held 57.7 per cent stake in the company as of June 30, 2020, while FIIs held 10.7 per cent, DIIs 25.1 per cent and public and others 6.5 per cent.