The U.S. Federal Reserve on Wednesday said it would keep buying $85 billion in bonds per month and gave no explicit indication that it was close to scaling back the program, despite intense market speculation it could soon start drawing it to a close. Full Article | Instant view
Asian stocks to lead the way to year's end, Fed seen pulling back - Reuters Poll. Full Article
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Deutsche starts United Spirits with 'buy' rating
MUMBAI (Reuters) - Deutsche Bank initiated coverage of United Spirits with a "buy" rating, citing it 53 percent market share in the Indian spirits market, the significant entry barriers to foreign players, and the benefits from its deal to sell a majority stake to Diageo.
The investment bank said Diageo Plc (DGE.L) would bring "much-needed financial prudence" to United Spirits Ltd (UNSP.NS), which should improve profitability and cash flows.
Deutsche set its 12-month price target at 2,700 rupees.
United Spirits shares were up 1.5 percent at 1,788 rupees as of 10:06 a.m.
(Reporting by Abhishek Vishnoi and Manoj Dharra)
- Tweet this
- Share this
- Digg this