Buy United Spirits, target price Rs 810: Yes Securities

Yes Securities has buy call on United Spirits with a target price of Rs 810. The current market price of United Spirits Ltd. is Rs 755.45.

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

United Spirits Ltd., incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 54890.29 Crore) operating in Beverages - Alcoholic sector.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1729.50 Crore, down -22.62 % from last quarter Total Income of Rs 2235.00 Crore and up 66.76 % from last year same quarter. Total Income of Rs 1037.10 Crore. Company reported net profit after tax of Rs 50.30 Crore in latest quarter.

Investment Rationale
The stock is on the verge of a breakout from a narrow consolidation phase following its recent up move. Further, strong volume build up in the run up before consolidation phase suggests that the breakout should follow. Technical indicator RSI crossing the 60-level is also suggesting a successful breakout is on cards going forward.

Promoter/FII Holdings
Promoters held 56.8 per cent stake in the company as of Dec 30, 2020, while FIIs held 19 per cent, DIIs 9.8 per cent and public and others 14.5 per cent.