United Breweries (Holding) Ltd: Forms a Temporary Bottom:
United Breweries (Holding) Ltd closed at Rs.115.80. The company has good stakes
in a number of group companies viz: Mangalore Chemicals and
Fertilizers Ltd (24.51%. The value of the holdings--Rs.112.84 Cr),
United Breweries Ltd (Rs.2862.51 Cr), United Spirits Ltd (Rs.4675.85
Cr) and U B Engineering Ltd (Rs.24.46 Cr). It also holds 24.44% stake
in Kinghfisher Airlines Ltd. The current talks of Jet Airways Ltd
singing a deal with Etihad, might create more optimism and a benchmark
for Kingfisher Airlines Ltd, too. Besides, this Kingfisher Airlines Ltd is still not out of the deal according to the latest media reports.
The
scrip basically fell because, Diageo’s open offer to acquire another 26
per cent in United Spirits Ltd (USL) got delayed as the requisite
approval did not come from the Securities and Exchange Board of India
(SEBI). But this is a done deal and things are expected to be
streamlined soon. So, all points to the positive built up in the stock
of United Breweries Holdings Ltd. Some weak hands might sell the
counters, it is time that you pick up, but always keep a SL of Rs.102.
In these market conditions, it will be virtual suicidal to play without STOP LOSS, unless you have a long term view.
In these market conditions, it will be virtual suicidal to play without STOP LOSS, unless you have a long term view.