United Spirits fall 2% as CLSA downgrades its outlook to 'sell'

Shares of United Spirits fell nearly 2% on Thursday after CLSA downgraded the company's outlook to 'sell' from 'underperform'.

At 2.01 pm, stock of United Spirits was trading at Rs 2,224.04 per piece on BSE, sinking over Rs 44 or 1.94%. 

As per CLSA, the ongoing regulatory hurdles in the state of Karnataka over liquor business is also one of the reason for the revision in United Spirits ratings. 

CLSA, "Final Supreme Court verdict on the liquor ban within 500 meters of highways and the effective Goods and Services Tax rate will be the key drivers of the stock going ahead."