BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
United Spirits Ltd. has been the second best performer in our coverage universe, with the stock price moving up nearly 60% since. It has also comfortably outperformed its other large cap alcobev peer, United Breweries Ltd., since our upgrade.
the strategic refresh under the new chief executive officer as well as
the ongoing strategic review of the Popular portfolio (to be concluded by December 2021) offer scope for sustained double-digit volume-led topline growth as well as sharper margin improvements going forward.
However, to a large extent, these are already a part of our forecasts. Thus, United Spirits' valuations at 62.3 times on a standalone basis leave little room for an upside.
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