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Home » News » Stocks Views

Mar 29, 2012, 02.01 PM | Source: CNBC-TV18

Exit United Spirit on upside: Devang Mehta

Devang Mehta, Vice President & Head - Equity Sales, Anand Rathi Financial Services is of the view that one can exit United Spirit on upside.

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Exit United Spirit on upside: Devang Mehta

Devang Mehta, Vice President & Head - Equity Sales, Anand Rathi Financial Services is of the view that one can exit United Spirit on upside.

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Devang Mehta (more)

Vice President & Head - Equity Sales, | Capital Expertise: Equity - Technical

Devang Mehta, Vice President & Head - Equity Sales, Anand Rathi Financial Services is of the view that one can exit United Spirit on upside.

Mehta told CNBC-TV18, "In the short term United Spirits is going to be in lot of news because there are talks about deal with Heineken for United Breweries or for United Spirits. Also what we hear is DIGO is also interested in buying a stake in United Spirits. But the major overhang on this group is to bailout Kingfisher if a stake is exited in this company which materializes to the promoter selling of its core business to support its non-core business would not be in a good light for long term. The news of the deal which is in the pipeline can keep the stock at elevated levels but on a bounce back one should try and exit if his/her view is short to medium term."

The company's trailing 12-month (TTM) EPS was at Rs 30.82 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 19.26. The latest book value of the company is Rs 390.21 per share. At current value, the price-to-book value of the company was 1.52. The dividend yield of the company was 0.42%.

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