MARKET EYE-CLSA downgrades United Spirits; says risk-reward unfavourable

Mon Dec 3, 2012 1:57pm IST

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* CLSA downgraded United Spirits to 'sell' from 'buy'
citing unfavourable risk-reward due to sharp rally in stock
price ahead of final consummation of the deal with Diageo PLC
.
* United Spirits rose 69.8 percent in November versus 4.5
percent rise in India's benchmark index.
* The research house also says that its interaction with Diageo
PLC indicates that while the group is upbeat on the long term
potential for United Spirits, in the near term the management
and strategy may impact volumes. 

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
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