United Spirits shares drop 0.21% as Sensex falls

Shares of United Spirits Ltd. traded 0.21 per cent lower in Wednesday's session at 10:35AM (IST). The stock opened at Rs 1030.05 and has touched an intraday high and low of Rs 1058.6 and Rs 1030.05, respectively, during the session so far.

The stock quoted a 52-week high of Rs 1072.65 and a 52-week low of 730.9. About 19,370 shares changed hands on the counter so far.

Benchmark Nifty50 was down 10.8 points at 19982.4, while the BSE Sensex traded 48.31 points lower at 67172.82 at the time of writing of this report.

In the Nifty pack, 25 stocks traded the day in the green, while 25 were in the red.


Key Financials
For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 5830.1 crore, up 131.28 per cent from the previous quarter's Rs 2520.8 crore and up 138.42 per cent from the year-ago quarter. The company reported net profit of Rs 476.7 crore for the latest quarter.

Promoter Holdings
Promoters held 56.68 per cent stake in the company as of 30-Jun-2023, while FIIs held 15.92 per cent and MFs 10.07 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 868.74 on September 13, while the 50-DMA was at Rs 996.79. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.