
Scotch, stocks and a ₹17,000-crore surprise: Why United Spirits could do well in the medium term
In July 2023, we had initiated coverage on the world’s top spirits maker Diageo Plc-owned United Spirits Ltd (USL) with a ‘hold’ rating. Since then, while the stock has rallied to current levels of ₹1,452, earnings visibility, margin gains and structural …