Sell United Breweries, prefer Glenmark: Gaurang Shah

Gaurang Shah of Geojit BNP Paribas told CNBC-TV18, "We have a sell recommendation on United Breweries and there is a lot of news flow on the counter with Vijay Mallya’s exit or lot of question marks and the entire UB Group company shares are in the news for all the wrong reasons. My advice would be to make a switch over here. Of course by default product wise it has got one of the largest market share and a great consumer favourable product.""My sense is that in case if one wants to take an exit from here it would be prudent to look at two defensive sectors one is pharmaceutical and other is IT. From the pharmaceutical our opinion would be to make a switch to Glenmark Pharma and in the IT something like a HCL Technologies both these are from a long-term perspective," he added.