Buy United Breweries, target price Rs 1385: ICICI Securities

ICICI Securities has buy call on United Breweries with a target price of Rs 1385. The current market price of United Breweries Ltd. is Rs 1277.

United Breweries Ltd., incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 33689.18 Crore) operating in Beverages - Alcoholic sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1295.77 Crore, up 38.98 % from last quarter Total Income of Rs 932.34 Crore and down -11.15 % from last year same quarter Total Income of Rs 1458.37 Crore. Company reported net profit after tax of Rs 127.19 Crore in latest quarter.


Investment Rationale
Stock forming a higher base at the rising demand line joining lows since October 2020 and 10 weeks EMA thus provides favourable risk reward set up

Promoter/FII Holdings
Promoters held 57.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 10.7 per cent, DIIs 8.9 per cent and public and others 22.7 per cent.