Good idea to look at booking profits on United Spirits: Phani Shankar, Angel Broking

In a chat with ET Now, Phani Shekhar, Fund Manager - PMS, Angel Broking, shares his views on the United Spirits shares.

ET Now: What is your call on United Spirits?

Phani Shekhar: It would be a very good idea to start looking at booking profits because in these kind of deals there might be a buzz it might go up a little bit although it is completely devoid of any fundamental merit. So it might be a win for a very tactical reason, it might be a good idea to trade with trailing stop losses and think of booking profits because there is no way that you can make money, at least from a fundamental perspective, paying those kind of valuations.

So Diageo might have paid it for controlled premium but minority shareholders get nothing out of paying these kind of valuations, buying this in secondary market.