Buy United Spirits, target price Rs 570: Motilal Oswal

Motilal Oswal has given a buy rating to United Spirits with a target price of Rs 570. The share price moved up by 2.20 per cent from its previous close of Rs 544. The stock’s last traded price is Rs 555.95.

United Spirits Ltd., incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 39543.68 Crore) operating in Beverages - Alcoholic sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2196.00 Crore, up 112.81 % from last quarter Sales of Rs 1031.90 Crore and down -5.11 % from last year same quarter Sales of Rs 2314.20 Crore Company reported net profit after tax of Rs 125.50 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 56.8 per cent stake in the company as of Sept 30, 2020, while FIIs held 18.8 per cent, DIIs 7.5 per cent and public and others 16.9 per cent.