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United Spirits share price: The brokerage also hiked its target price for the stock to Rs 1,760 per share, implying an upside potential of over 11.5% from the stock's current market price of Rs 1,578 per share.
In another exchange filing, the company said that its board has approved the appointment of Praveen Someshwar as the Managing Director and Chief Executive Officer for a period of five years.
Inbrew is negotiating final terms of a deal and could reach an agreement as soon as the coming weeks.
United Spirits, the country's leading liquor company said that it is considering all options to deliver sustainable long-term profitable growth.
USL has several key brands under its ‘prestige and above’ segment. These include McDowell’s No 1, Signature, Royal Challenge and Antiquity Blue whiskies.
According to an Economic Times report, the maker of Johnny Walker surpasses even the likes of IT companies such as Infosys and all other Fast Moving Consumer Goods (FMCG) in hiring crorepatis.
Nikhil Vora of IDFC Securities believes that USL's business will become at least three times more profitable than it is today and sees profits moving from Rs 400 crore to Rs 1200 crore in next three years.
