Hold United Spirits, says VK Sharma

VK Sharma, Head Private Broking & Wealth Management, HDFC Securities advises to hold United Spirits for long term.
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May 17, 2013, 08.11 PM | Source: CNBC-TV18

Hold United Spirits, says VK Sharma

VK Sharma, Head Private Broking & Wealth Management, HDFC Securities advises to hold United Spirits for long term.

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Hold United Spirits, says VK Sharma

VK Sharma, Head Private Broking & Wealth Management, HDFC Securities advises to hold United Spirits for long term.

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VK Sharma (more)

Head Private Broking & Wealth Management, HDFC Securities | Capital Expertise: F&O

VK Sharma, Head Private Broking & Wealth Management, HDFC Securities advises to hold United Spirits for long term.

VK Sharma of HDFC Securities told CNBC-TV18, “If one were to look at United Spirits for the next two years or so, one can definitely look at a much higher levels. One just needs to remember that this was an excellent company with good products but run in a very bad manner. The cash resources of this company were being used for the group. So what will happen post the acquisition? What happens is it becomes a cleaner company, it becomes the corporate governance would improve drastically and the loans and advances would stop. This has a debt of around more than Rs 5,000 crore with an interest outlook of Rs 900 crore.”

He further added, “If this interest is done away with, the net profits will multiply three times from what they currently are. So my sense is one has to look at this. This is a good company which will do even better. So I would like to hold it. Anybody who is holding for a period of three years can definitely hope to see around 80-90 percent returns from here.”

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