Deutsche starts United Spirits with 'buy' rating

MUMBAI Wed Jan 23, 2013 10:06am IST

Related Topics

Stocks

   
Rajalakshmi (C), 28, smiles after winning the Miss Wheelchair India beauty pageant in Mumbai November 26, 2014. REUTERS/Danish Siddiqui

Miss Wheelchair India

Seven women from across India participated in the country's second wheelchair beauty pageant, which aims to open doors for the wheelchair-bound in modelling, film and television, according to organisers  Slideshow 

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)

FILED UNDER:

REUTERS SHOWCASE

Kashmir Attack

Kashmir Attack

Ten dead in Kashmir's worst militant attack in more than a year  Full Article 

OPEC Meeting

OPEC Meeting

Gulf states seek to block OPEC oil output cut.  Read 

E-Commerce Boom

E-Commerce Boom

Online grocers come up trumps in India's e-commerce boom   Full Article 

GDP, RBI Preview

GDP, RBI Preview

GDP growth set to weaken, business wants reforms more than rate cut  Full Article | Related Story 

Jaitley to Rajan

Jaitley to Rajan

Jaitley likely to meet Rajan on Monday to urge rate cut  Full Article 

Banking Sector

Banking Sector

RBI releases final rules for niche bank licensing  Full Article 

Jamini Roy

Jamini Roy

Photo Gallery – Bengali household name Jamini Roy’s paintings  Full Article 

Reuters India Mobile

Reuters India Mobile

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