November 1, 2018 / 4:31 AM / 9 months ago

BUZZ-India's United Spirits jumps on Q2 profit surge

** Shares of liquor company United Spirits Ltd climb 7.5 pct to 619.9 rupees, their highest since Sept. 3

** Stock marks its sharpest intraday pct gain since Jan. 5, on track for 4th straight winning session

** Company reported a 69 pct rise in Q2 profit on Wednesday, boosted by robust growth in its premium portfolio

** “We see signs of volume growth acceleration, cost rationalization, improved capital efficiencies and debt reduction that can drive strong earnings growth for USL” - Morgan Stanley

** MS upgrades rating to “overweight” from “equal-weight”; raises price target to 700 rupees from 650 rupees

** About 1.6 mln shares change hands by 0427 GMT, roughly the same as their 30-day daily moving avg

** Up to last close, stock down 21.4 pct this year

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