ALSO READLiquor shares rally as United Spirits posts strong profit; stock soars 16% Liquor stocks gain; GM Breweries, Associated Alcohols soar over 10% United Spirits results lift liquor stocks Liquor ban clarification a key positive for United Spirits Liquor shares rally; Radico Khaitan, Globus Spirits hit 52-week highs
GM Breweries, Pincon Spirit, Associated Alcohols & Breweries, Pioneer Distilleries, Globus Spirits, Empee Distilleries and Tilaknagar Industries were up more than 4% on BSE. United Breweries, United Spirits, Khoday India, Jagatjit Industries and Radico Khaitan up in the range of 1% to 3%, as compared to 0.46% rise in S&P BSE Sensex at 10:29 AM.
GM Breweries hit a record high of Rs 1,150, up 18% on BSE in intra-day trade on back of heavy volumes. The company engaged in country liquor business reported more-than-doubled net profit of Rs 22.30 crore in Q3FY18. It had profit of Rs 9.90 crore in the same quarter last fiscal.
Total revenue from operations (inclusive of excise duty and VAT) during the quarter under review was up 24% at Rs 434 crore against Rs 349 crore in the corresponding quarter of previous fiscal.
At 10:35 AM; the stock was trading 12^% higher at Rs 1,092 on BSE. A combined 663,353 shares changed hands on the counter on BSE and NSE against an average sub 300,000 shares were traded daily in past two weeks on both the exchanges. In past three months, stock zoom 126% against 8% rise in Sensex.
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