Web Sify
Follow us on

Deutsche starts United Spirits with 'buy' rating

Source : REUTERS
Last Updated: Wed, Jan 23, 2013 04:40 hrs

MUMBAI (Reuters) - Deutsche Bank initiated coverage of United Spirits with a "buy" rating, citing it 53 percent market share in the Indian spirits market, the significant entry barriers to foreign players, and the benefits from its deal to sell a majority stake to Diageo.

The investment bank said Diageo Plc would bring "much-needed financial prudence" to United Spirits Ltd , which should improve profitability and cash flows.

Deutsche set its 12-month price target at 2,700 rupees.

United Spirits shares were up 1.5 percent at 1,788 rupees as of 10:06 a.m.

(Reporting by Abhishek Vishnoi and Manoj Dharra)

More from Sify:
blog comments powered by Disqus
  Cities   Price (10g)
  Chennai   Rs. 24500.00 (-0.33%)
  Mumbai   Rs. 25480.00 (-0.08%)
  Delhi   Rs. 25200.00 (0%)
  Kolkata   Rs. 25000.00 (0%)
  Kerala   Rs. 24400.00 (-0.41%)
  Bangalore   Rs. 24450.00 (0%)
  Hyderabad   Rs. 24580.00 (0%)
talking point on sify finance