REFILE-MARKET EYE- Kotak initiates India's United Breweries with 'sell'

Thu Jan 3, 2013 1:19pm IST

Related Topics

Stocks

   
Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

(Corrects to remove extraneous word in headline)
* Kotak Institutional Equities initiates coverage of United
Breweries Ltd with a 'sell' rating and a target price
of 700 rupees, calling valuations "too high for our comfort."
* The 'sell' rating comes despite what Kotak says is a positive
outlook for India's beer market, saying beer volumes will grow
"strongly" over the next several years despite an adverse tax
structure in the sector.
* United Breweries falls 0.2 percent to 943 rupees.

 (manoj.dharra@thomsonreuters.com /
manoj.dharra.reuters.com@reuters.net)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Monsoon Forecast

Monsoon Forecast

South Asia monsoon seen below-average to average in 2014 - WMO.  Full Article 

Solar Dispute

Solar Dispute

Green groups urge U.S. to drop solar trade case against India.  Full Article 

Oil Imports

Oil Imports

India to make May-July oil payments to Iran - sources.  Full Article 

Facebook Earnings

Facebook Earnings

Facebook Q1 revenue grows 72 percent on rising mobile ads.  Full Article 

DLF Shares

DLF Shares

DLF slides 3 percent, underperforms rivals.  Full Article 

Rice Exports

Rice Exports

India may cede top rice exporter spot under Southeast Asian price onslaught.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage