United Spirits at 2400-2500 is a great buy from long term perspective: Mehraboon Irani
Buying into the stock because the parent has changed is not a reason big enough for the stock certainly to go up by 40% or 50% up, says Mehraboon Irani.
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In a chat with ET Now, Mehraboon Irani, Principal & Head-Private Client Group Business, Nirmal Bang Securities shares his views on United Spirits. Excerpts:
ET Now: A very quick fundamental view from you on United Spirits, it cracked today and what does this open up in terms of accumulation possibilities?
Mehraboon Irani: The stock is fairly valued at the present level. A little expensive if you ask me. Buying into it because the parent has changed is not a reason big enough for the stock certainly to go up by 40% or 50% up.
United Spirits at 2400-2500 definitely is a great buy from long term perspective. However, don't expect there will be fireworks at least in the very short term. The stock won't be doing much in the next one-two quarters because it grossly expensive at the present levels.
ET Now: A very quick fundamental view from you on United Spirits, it cracked today and what does this open up in terms of accumulation possibilities?
Mehraboon Irani: The stock is fairly valued at the present level. A little expensive if you ask me. Buying into it because the parent has changed is not a reason big enough for the stock certainly to go up by 40% or 50% up.
United Spirits at 2400-2500 definitely is a great buy from long term perspective. However, don't expect there will be fireworks at least in the very short term. The stock won't be doing much in the next one-two quarters because it grossly expensive at the present levels.
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