Buy United Breweries, target price Rs 1610: IIFL

IIFL has buy call on United Breweries with a target price of Rs 1610. The current market price of United Breweries Ltd. is Rs 1540.8.

Time period given by analyst is Intra Day when United Breweries Ltd. price can reach defined target.

United Breweries Ltd., incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 40805.65 Crore) operating in Beverages - Alcoholic sector.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1125.63 Crore, down -27.67 % from last quarter Total Income of Rs 1556.30 Crore and down -10.97 % from last year same quarter Total Income of Rs 1264.30 Crore. Company reported net profit after tax of Rs 30.94 Crore in latest quarter.

Investment Rationale
Stock has given a consolidation pattern breakout on the daily chart.

Promoter/FII Holdings
Promoters held 72.7 per cent stake in the company as of June 30, 2021, while FIIs held 9.8 per cent, DIIs 11.3 per cent and public and others 6.2 per cent.