United Spirits is a 'sell' post Karnataka HC's decision: Harendra Kumar

In a chat with ET Now, Harendra Kumar, Managing Director-Institutional Equities, Elara Capital shares his views on United Spirits. Excerpts:

ET Now: There will be a lot of activity in United Spirits today after the Karnataka High Court on Friday, declared the United Breweries Holdings Limited's ( UBHL) stake sale in United Spirits to Diageo as void. What do you think the stock reaction will be and how would you approach the stock now?

Harendra Kumar: Obviously it is more of a 'sell' on news at this point of time and a lot of investors are already liquidating their positions in this stock.