Kotak initiates United Breweries with 'sell'

Written By Unknown on Kamis, 03 Januari 2013 | 15.45

Kotak Institutional Equities initiates coverage of United Breweries  with a 'sell' rating and a target price of Rs 700, calling valuations "too high for our comfort."

The 'sell' rating comes despite what Kotak says is a positive outlook for India's beer market, saying beer volumes will grow "strongly" over the next several years despite an adverse tax structure in the sector.

United Breweries falls 0.2 percent to Rs 943.



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