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Liquor stocks gain after Supreme Court clarifies on Highway liquor ban

United Spirits, Globus Spirits, GM Breweries, Pincon Spirit and Radico Khaitan were up in the range

SI Reporter  |  Mumbai 

Liquor ban

Shares of companies have rallied by up to 15% on BSE in early morning trade after the report suggests that the on Wednesday clarified that the ban on does not extend to municipal areas.

The court, in an order dated July 11, which was uploaded on the website on Wednesday, clarified that the 500-metre ban does not prohibit licensed establishments within municipal areas.

Among the individual stocks, United Spirits, Globus Spirits, GM Breweries, Pincon Spirit and Radico Khaitan were up in the range of 5% to 13% on BSE. On comparison, the S&P BSE Sensex was up 0.12% at 31,605 at 09:35 am.

Despite a ban on serving alcohol 500 metres from highways, which came into effect on April 1, most of the frontline stocks had outperformed the market since then. United Spirits, Khoday India, Radico Khaitan and Pioneer Distilleries had gained in the range of 14% to 21%, against 7% rise in the benchmark index.

COMPANY LATEST PREV CLOSE GAIN(%)
GLOBUS SPIRITS 72.80 64.85 12.26
G M BREWERIES 433.00 401.55 7.83
RAVIKUMAR DISTLL 9.00 8.50 5.88
PINCON SPIRIT 45.80 43.55 5.17
KHODAY INDIA 70.45 67.10 4.99
UNITED SPIRITS 2588.90 2471.60 4.75
WINSOME BREW. 9.45 9.03 4.65
PIONEER DISTIL. 206.95 197.95 4.55
TILAKNAGAR INDS. 11.34 10.87 4.32
SOM DISTILLERIES 142.65 137.00 4.12
RADICO KHAITAN 168.15 161.85 3.89
EMPEE DISTILL. 39.40 38.05 3.55
       
Latest price on BSE in Rs at 09:51 am

First Published: Thu, August 24 2017. 09:52 IST
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