May 25, 2018 / 4:33 AM / in 3 months

BUZZ-India's United Spirits rises after March-qtr results

** Shares of United Spirits Ltd rise as much as 7.1 pct to 3,340.95 rupees, highest in a fortnight

** Co posted a March-qtr profit of 2.11 bln rupees ($30.92 mln), on Thursday compared with a loss of 1.04 bln rupees a year ago

** Macquarie Research keeps rating unchanged at ‘underperform’ and target price at 2,212 rupees

** Q4 EBITDA was 5 pct below estimates on account of higher employee and advertisement & promotion costs - Macquarie

** Of 21 analysts covering stock, seven have a ‘buy’ rating, five have ‘hold’ and nine have ‘sell’ or lower rating; median target price of 3,250 rupees

** Shares had fallen 15 pct this year as of Thursday’s close ($1 = 68.2450 Indian rupees)

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