Moneycontrol
Nov 10, 2017 10:01 AM IST | Source: Moneycontrol.com

United Breweries rises 3%, Motilal Oswal keeps buy with target Rs 1320

The company has reported 247 percent jump in its Q2 net profit to Rs 93.84 crore against Rs 27.05 crore.

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Share price of United Breweries added 3 percent intraday Friday as Motilal Oswal has maintained buy rating with a target of Rs 1320 per share.

According to Motilal Oswal, the operating environment appears to be improving far ahead of expectations, leading to impressive set of numbers in 2QFY18, which meant the company nearly achieved our erstwhile full-year PAT forecasts in 1HFY18.

It has upgraded its EPS forecasts by 48 percent / 28 percent / 21 percent for FY18/FY19/FY20.

Despite the highway ban, the company's volume rose 11 percent YoY versus 5 percent growth for the industry, it added.

The company has reported 247 percent jump in its Q2 net profit to Rs 93.84 crore against Rs 27.05 crore.

Share price rose 32.4 percent in the last 1 month.

At 09:57 hrs United Breweries was quoting at Rs 1,115, up Rs 13.75, or 1.25 percent on the BSE.

Posted by Rakesh Patil
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