ALSO READRadico Khaitan clarifies on stake sale buzz; stock erases gains Liquor shares surge; GM Breweries, Pioneer Distilleries zoom 20% Som Distilleries surges 19% as it starts supply of Black Fort Beer Liquor shares under pressure; United Spirits, Radico Khaitan down over 5% Liquor ban on highways: United Spirits, Radico Khaitan down over 5%
At 09:38 am; the stock was trading 5.5% higher at Rs 127 on the back of two-fold jump in trading volumes. A combined 2.38 million shares representing 1.8% of total equity of Radico Khaitan exchanged hands in the first 23 minutes of trade on NSE and BSE.
On Thursday, Madhuri Madhusudan Kela bought 704,741 equity shares or 0.53% stake in the company at price of Rs 117 per share on the NSE, the bulk deal data showed. CLICK HERE FOR BULK DEALS DATA.
In the month of April, the stock of breweries & distilleries company had corrected 22% till Wednesday, after the Supreme Court order banning sale of liquor along the national and state highways. On comparison, the Nifty 50 index was down 0.76% during the same period.
Radico Khaitan spans in the areas of whisky, rum, brandy, vodka and gin under the brands include 8PM Royale, 8PM Bermuda XXX, Contessa, Old Admiral VSOP, Black Cat and Whitefield. The Company's plants are located at Uttar Pradesh, Rajasthan Andhra Pradesh, Uttaranchal and Haryana.