Comments
Shares of United Spirits Ltd plunged as much as 6.7 per cent to Rs 3,501.10, marking biggest intraday percentage drop since July 10. India's largest liquor company had said on Tuesday its third-quarter profit fell about 9 per cent, missing estimates, due to higher marketing investment.
According to Kotak Institutional Equities, results were a “major miss". It said EBITDA was at least 25 per cent off expectations. Up to Tuesday's close, the stock had risen 70.2 per cent in 12 months.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.