Buy United Breweries, target price Rs 1785: Yes Securities

Yes Securities has buy call on United Breweries with a target price of Rs 1785. The current market price of United Breweries is Rs 1734.55 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 45869.01 Crore) operating in Beverages - Alcoholic sector.

United Breweries Ltd. key Products/Revenue Segments include Other Operating Revenue, Scrap, Others, Non-Alcoholic Beverages and Royalty Income for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1431.46 Crore, up 27.17 % from last quarter Total Income of Rs 1125.63 Crore and up 53.53 % from last year same quarter Total Income of Rs 932.34 Crore. Company reported net profit after tax of Rs 80.34 Crore in latest quarter.

Investment Rationale
Throwback from the record peak found renewed buying interest in UBL stock near the immediate support of Rs 1700. Sustenance could lift the stock till Rs 1780-1800 zone.

Promoter/FII Holdings
Promoters held 72.71 per cent stake in the company as of 30-Sep-2021, while FIIs owned 9.78 per cent, DIIs 10.49 per cent.