United Breweries falls 1% on UBS report

Shares of United Breweries , a part of liquor baron Vijay Mallya-led UB Group, fell over 1 percent after the foreign research firm UBS downgraded the stock to a sell with a target price of Rs 625.

While explaining the reason for downgrade, the firm said, "The stock has risen 78% year to date, outperforming the consumer sector by nearly 35%. The expectations of a takeover by Heineken due to the Kingfisher bankruptcy issues are being fully reflected in the share price now."

At 13:14 hours IST, the share was trading at Rs 664, down 1.09 percent following yesterday's loss of 1.67 percent.

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