United Spirits Stock Under Pressure After State Excise Hike: SEBI RA Prabhat Mittal Sees Breakdown Below ₹1,500

United Spirits has breached key support and is flashing multiple bearish indicators, according to SEBI-registered analyst Prabhat Mittal.

At the time of writing, United Spirits shares were trading at ₹1,491.30, down ₹118.60 or 7.37% on the day

The analyst said the stock repeatedly took support near ₹1,500, but is now trading below that level after Maharashtra hiked excise duty on certain liquor products. 

In a move likely to impact liquor prices in the state, the Maharashtra cabinet approved a 50% increase in excise duty on Indian Made Foreign Liquor (IMFL), raising it from three times the manufacturing cost to 4.5 times. 

The hike affects products priced at ₹260 per bulk litre and is expected to increase annual state excise revenue by ₹14,000 crore.

Mittal added that United Spirits is trading below its 20, 50, and 200-day moving averages, which is a negative signal.

He also pointed out that the moving average convergence divergence (MACD) (12,26) indicator shows a sell signal. 

The analyst recommended selling the stock at ₹1,490, with a strict stop-loss at ₹1,551 and downside targets of ₹1,400 and ₹1,350.

On Stocktwits, retail sentiment was ‘extremely bearish’ amid ‘extremely high’ message volume.

The stock has declined 10.1% so far in 2025.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on