Buzzing: Shares of United Spirits advanced 5.2 percent intraday on back of turnaround performance by the company in second quarter of FY16.
The company has registered a net profit of Rs 929.3 crore in July-September quarter against a net loss of Rs 26.9 crore for the same period of last fiscal. The increase in profit is due to the divestment of United Breweries shares worth Rs 870 crore, which has been used to retire its debt.
Broking firm Citi has maintained sell rating on stock, while JP Morgan has maintained overweight rating with a target price of Rs 4100 per share.
IPO: InterGlobe Aviation Ltd, owner of Indian budget airline IndiGo, raised Rs 3010 crore in an initial public offering after setting the pricing at Rs 765 per share, according to a prospectus on Monday. That was at the upper end of a price range of Rs 700 to Rs 765 per share. The book-building closed last week, having attracted orders worth six times the number of available shares. It will make its market debut later this month.
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The company has registered a net profit of Rs 929.3 crore in July-September quarter against a net loss of Rs 26.9 crore for the same period of last fiscal. The increase in profit is due to the divestment of United Breweries shares worth Rs 870 crore, which has been used to retire its debt.
Broking firm Citi has maintained sell rating on stock, while JP Morgan has maintained overweight rating with a target price of Rs 4100 per share.
IPO: InterGlobe Aviation Ltd, owner of Indian budget airline IndiGo, raised Rs 3010 crore in an initial public offering after setting the pricing at Rs 765 per share, according to a prospectus on Monday. That was at the upper end of a price range of Rs 700 to Rs 765 per share. The book-building closed last week, having attracted orders worth six times the number of available shares. It will make its market debut later this month.
If you want to more information regarding the Nifty opens Equity tips, Commodity tips, stock cash tips, stock future tips, MCX trading tips, and many other call @ 8109999233 or fill free trial form
http://equityresearchlab.com/Freetrial.php
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