Morgan Stanley resumes coverage of United Spirits Ltd with an "overweight" rating and a target price of 3,115 rupees.
* The investment bank says new owner Diageo Plc could implement a greater focus on profitable growth for the liquor maker.
* Morgan Stanley says United Spirits could also focus on the "prestige" liquor segment, improving margins.
* The bank also expects capital efficiencies, reduced leverage, strengthened leadership, and consistent disclosures to boost United Spirits' shares.
* As of 0515 GMT, United Spirits shares were up 3.9 percent at 2,501 rupees.