United Spirits stock hits new high, jumps 4% on hopes of healthy Q4 results

The premiumization trends in the liquor category (post COVID) continued to drive the Prestige & Above (P&A) portfolio.

Shares of United Spirits (USL) hit a record high of Rs 1,245.15, as they rallied 4 per cent on the BSE in Wednesday's intra-day trade on expectations of healthy earnings for the quarter ended March 2024 (Q4FY24), driven by improving realisations and higher focus on Prestige & Above (P&A) segment.

According to analysts, the margin is expected to sustain over 16 per cent during the medium term, aided by various measures undertaken over the past several years including premiumisation of products and leveraging of fixed overheads.

The board of directors of USL are scheduled to meet on May 24, 2024