No near-term triggers, United Spirits ends flat

Written by fe Bureau | Updated: Sep 5 2014, 10:10am hrs
The United Spirits scrip remained flat on Thursday even as the liquor maker reported a net loss of Rs 5,380 crore for the quarter ended March 31, 2014. While the company saw a writedown of Rs 4,321 crore, analysts feel it can see more of them. Abnessh Roy of Edelweiss says there are no near-term triggers with flat volumes in the liquor business and prices of molasses seeing a rise. Net sales dropped 16% sequentially to Rs 1,916 crore in the quarter. The scrip closed 0.37% lower at Rs 2,390.25 on BSE. YTD, the scrip has fallen over 8%, while Sensex has gained 28%.

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