Liquor stocks today rose up to 14 per cent after the Supreme Court gave its nod to Chandigarh administration denotifying some highways to allow sale of liquor from vends located within 500 metres of the roads. Shares of Tilaknagar Industries soared 13.73 per cent, Globus Spirits went up by 4.77 per cent and Pioneer Distilleries gained 2.84 per cent on BSE. Radico Khaitan rose by 1.16 per cent, Associated Alcohols and Breweries 0.93 per cent and Som Distilleries and Breweries 0.59 per cent. The apex court had in December last year banned sale of liquor within 500 metres of state and national highways across the nation from April 1 this year. However, it had on July 4 clarified that the idea behind its verdict was that a driver should not be under the influence of liquor at places where there is high-speed traffic. The Supreme Court yesterday gave its nod to Chandigarh administration's notification denotifying some highways to allow continued sale of liquor from vends within 500 metres of the roads. In a relief to Arunachal Pradesh and Andaman and Nicobar Islands, the apex court today relaxed the 500 metre cap on liquor vends across the national and state highways there.
Liquor stocks on a high; Tilaknagar Ind surges 14 pc
Press Trust of India |