Globus Spirits at new high as promoter, institutional investors buy stake

On Wednesday, August 12, promoter Ram Bagh Facility Services LLP bought an additional 162,000 shares, while Long Term Equity Fund purchased 175,000 shares of the company

Shares of Globus Spirits were locked in the upper circuit for the fifth straight trading day, up 5 per cent at Rs 941, also its new high on the National Stock Exchange (NSE) on Friday after the promoter and institutional investors bought a stake in the company through the open market.

In the past one week, the stock of breweries & distilleries company has rallied 28 per cent, as compared to a 1.5 per cent gain in the Nifty50 index. Till 10:05 am, a combined 195,000 equity shares had changed hands and there were pending buy orders for around 14,000 shares on the NSE and BSE. Currently, the stock is trading under the T group on the BSE. In the T2T segment, each trade has to result in delivery and no intra-day netting of positions is allowed.

On Wednesday, August 12, 2021, promoter Ram Bagh Facility Services LLP bought an additional 162,000 shares of Globus Spirits at Rs 862.05, while Long Term Equity Fund purchased 175,000 shares of the company at Rs 862.05 per share on NSE through bulk deals, the exchange data shows.

International Assets Reconstruction Company Private Limited sold 337,000 shares of Globus Spirits at Rs 862.05 per share, data shows.

Earlier, on Tuesday, August 11, International Assets Reconstruction Company Private Limited had sold 1.08 million shares of Globus Spirits at Rs 822.90 per share. Massachusetts Institute of Technology (900,000 shares) and 238 Plan Associates LLC (180,000 shares) had bought shares at price of Rs 822.90 per share vial bulk deals, data shows. CLICK HERE FOR DETAILS

Globus Spirits is the largest grain based Extra Neutral Alcohol (ENA) manufacturer in India with a capacity of 160 million litres. The company is also a supplier of Indian made Indian liquor (IMIL) and premium IMFL in India. IMIL segment comprised around 42 per cent of consolidated revenues, with the rest contributed by bulk alcohol (45 per cent) and others (botting and by-products). Total 80 per cent of IMIL sales occur in Rajasthan (32-33 per cent market share).

"Globus Spirits has been a beneficiary of the changing dynamics in the liquor space (inflation in ENA prices and growth in IMIL space due to better quality, higher strength and attractive product positioning). The management has been at the forefront to capture the opportunities," analysts at ICICI Securities said in the result update.