United Spirits is having a Tata Communications moment, says Anil Singhvi; stock hits 52-week high post-Q1 results

United Spirits (NSE: MCDOWELL-N) shares rose as much as 7 per cent and hit a 52-week high on the BSE at Rs 1,041.5 apiece after the company posted better-than-expected results for the June quarter (Q1FY24).

At around 11:30 AM, shares of the breweries and distilleries company were trading at Rs 1,036.05 apiece, up 6.22 per cent. The market capitalisation of the stock stood at Rs 75,379.01 crore.

Anil Singhvi's view on United Spirits 

Zee Business Managing Editor Anil Singhvi said that United Spirits is having a Tata Communications moment where its performance is improving quarter after quarter (QoQ). Singhvi added that this stock will become everyone's favourite soon and has a scope of doubling or tripling in the coming time. 

What do analysts suggest?

Zee Business panellist Sandeep Wagle has recommended buying shares of United Spirits at Rs 1,014 apiece and adding on dips. He suggests buying the stock for one or one and a half months, keeping the stop loss at Rs 960 apiece.  

United Spirits Q1 results 

United Spirits reported a profit after tax (PAT) of Rs 238.2 crore for the first quarter ended June 30, 2023, which was estimated at Rs 174.7 crore. The revenue of the company stood at Rs 2171.9 crore, against the estimate of Rs 2130.9 crore.

United Spirits share price: Past performance 

So far in 2023, the stock has gained nearly 19 per cent against the Nifty's rise of nearly 9 per cent.

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