United Breweries Ltd

NSE :UBL   BSE :532478  Sector : Alcoholic Beverages

​​ABOUT COMPANY:United Breweries is primarily engaged in the manufacture, purchase and sale of beer and non-alcoholic beverages.

NEW IN STOCK: Heineken NV, the world’s second largest beer maker, has taken control of India’s largest brewer United Breweries Limited (UBL), cementing its position in a vast market where beer consumption could grow from a low base. The Dutch brewer said on Wednesday it had bought 39.6 million shares in UBL to push its holding to 61.5% from 46.5% before. Based on Tuesday’s close at 1,466 Indian rupees, the acquisition would be worth 58.1 billion Indian rupees ($781.3 million).

What’s Ahead? Technical outlook of UBL:

On Wednesday 23-June-2021 stock was in news and tested resistance level of 1490-1500 from where stock has seen huge selling pressure, finally closed at 1403.85 on NSE losing 3.61%, Stock need to close above 1500 mark, where stock will enter uncharted territory and swift up moves will be seen. For Investors we suggest fresh buying in stock once stock closes above 1500 level. Intraday traders and swing traders can initiate fresh short position on the stock for the target of 1344 with stop loss place above 1435.