DAM Capital maintains Buy on UBL with a target price of ₹1,685, citing category growth and margin agenda.
UBL benefits from India's underpenetrated beer market, state reforms, share gains, and premiumization.
Livesquawk •
Investec retains Hold on UBL with ₹1,453 target; expects double-digit organic revenue growth, EBITDA/EPS growth ahead of revenue.
Margins seen rising to low-teens in 3–5 years, but raw-material pressure and brand investments slow recovery; FY27–28 estimates cut 7–17%.