Jigar Shah positive on United Spirits

Jigar Shah of Kim Eng Securities India told CNBC-TV18, "We continue to remain positive on United Spirits. Once again from a long-term point of view we think that as the economy starts improving, the companies which are operating in the business of lifestyle and premuimisation will tend to gain first as compared to companies which are more selling the staple goods."

"We think the urban revival story does quite good to United Spirits and with all the restructuring now behind the company, integration with Diageo going forward, we think that will benefit them and we should see strong improvement in their gross and EBITDA margin over the next few quarters. So, that will keep the interest in the story alive," he said.

"The immediate target is almost reached in the last few days. However, we continue to remain very positive."