United Spirits CEO Hints Towards A Brighter Future Stock Upbeat

United Spirits Limited is the top gainer in the BSE 200 index. The stock is trading higher by close to 8% at Rs 2064 per share as of 1050 hours on Monday.

The large cap company operates in the business of alcoholic beverages. If the stock price chart is taken into consideration, then it is seen that the stock had tumbled on May 19 trading session.

The dip in the stock may be contributed to the GST council decisions on finalising GST rates for beverages. The Indian Beverages Association (IBA) is disappointed with the final GST rates, as reported by the leading national business daily. However, the alcohol is excluded from the GST ambit, for the time being, the uncertainty still hovers.

However, the stock has recovered from the losses of past few trading sessions since the CEO of the company made a positive pitch on the company’s performance, as per the reports available on BSE.

The company has set out the medium-term goal to grow top-line by double digit and improve operating margin to mid-high teens. This buoyed the investor sentiments and the stock witnessed upward rally with huge volumes in the Monday’s first trading half.

The stock attracted 8,82,373 shares in its traded volume and traded value of Rs 179.28 Cr as of 1121 hours on NSE. The stock is trading above its volume weighted average price of Rs 2031.82 per share signalling rally to continue further. 

For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6626222 | Toll Free - 1800-3010-2007 
Give a Missed Call for Free Trial - 09699997717  

Share on Google Plus Share on Pinterest

About Suhani Varma

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.