United Spirits rating: Hold — Worst is over for the liquor company

Manufacturing and sale of alcoholic beverages was banned from 24th March to 4th May, which dragged USL’s volumes 49.2% y-o-y. By the end of June, all manufacturing units had become operational; by mid-August about 90% off-trade outlets had opened up.

from The Financial Express https://ift.tt/322Wwnx