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Last Updated : Sep 03, 2018 03:11 PM IST | Source: Moneycontrol.com

United Breweries down 1% as Kotak Securities maintains sell with target of Rs 1,100

The firm likes long-term growth potential in beer, but stock is too expensive.

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Shares of United Breweries was down 1.3 percent intraday Monday as research house Kotak Securities has maintained sell with a target price of Rs 1,100.

According to research house the potential downside is 21.5 percent.

During the FY2018, there is a 180-degree of swing from year-beginning to year-end. Also, return ratios has improved but cash flow generation remains subdued, it added.

The firm likes long-term growth potential in beer, but stock is too expensive.

The share touched its 52-week high Rs 1,462.35 and 52-week low Rs 775.75 on 24 August, 2018 and 08 September, 2017, respectively.

Currently, it is trading 5.21 percent below its 52-week high and 78.69 percent above its 52-week low.

The share rose 75 percent in last 1 year.

At 15:02 hrs United Breweries was quoting at Rs 1,388, down Rs 14.90, or 1.06 percent on the BSE.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Posted by Rakesh Patil
First Published on Sep 3, 2018 03:10 pm
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