United Spirits is down 4.5 percent intraday on Friday after its promoter company Diageo sees 175 million pound hit on sales in year to June on forex volatility.
Share price of liquor major United Spirits is down 4.5 percent intraday on Friday after its promoter company Diageo sees 175 million pound hit on sales in year to June on forex volatility. The company sees 45 million pound hit on EBITDA in year to June on forex volatility.
United Spirits promoter Diageo has already issued profit warnings on Thursday.
Research firm Macquarie has maintained an underperform rating on the stock with a target at Rs 443 per share. The house believes that price cut which the company has taken in McDowell’s No.1 by 6 percent in Maharashtra will have a longer term positive from a market share perspective.
"Underperform rating is mainly based on significantly lower margin estimates and sees FY19 EBITDA to be impacted by 3 percent.
At 11:07 hrs United Spirits was quoting at Rs 535.60, down Rs 25.10, or 4.48 percent. It has touched an intraday high of Rs 561.25 and an intraday low of Rs 533.50.
The company's trailing 12-month (TTM) EPS was at Rs 7.98 per share. (Jun, 2018). The stock's price-to-earnings (P/E) ratio was 67.10. The latest book value of the company is Rs 34.46 per share. At current value, the price-to-book value of the company was 15.54.