Book profits in United Spirits, advises Phani Sekhar

Phani Sekhar, fund manager of Angel Broking told CNBC-TV18, "United Spirits is clearly a turnaround case. I feel that the market is clearly underestimating the amount of work that the new management has to do in this. So, they have to change the product mix, increase the realisation, contain input costs and alter some of the business practices. Currently, I am not even talking about valuation because the numbers are not appropriate to discuss."

"If the stock is so expensive I don't think I will be comfortable holding on in my portfolio. One should book profits and not withstand the fact that the industry certainly looks good, but the stock is very expensive," Sekhar said. Also Read: Morgan Stanley sells United Spirits' shares worth Rs 566 cr