Pioneer Distilleries, Globus Spirits, Som Distilleries surge 20%

Empee Distilleries, Tilaknagar Ind, Radico Khaitan, GM Breweries and United Breweries were up 1%-13% on BSE.

Shares of breweries & distilleries companies are in focus with Pioneer Distilleries, Globus Spirits and Som Distilleries & Breweries locked in upper circuit of 20% each on the BSE.

Empee Distilleries (13% at Rs 71), Tilaknagar Industries (11% at Rs 17.95), Radico Khaitan (4% at Rs 123), GM Breweries (2% at Rs 621) and United Breweries (1% at Rs 917) were up 1%-13%, as compared to 0.08% rise in the S&P BSE Sensex at 02:10 am.

Pioneer Distilleries, a subsidiary of United Spirits, has locked in upper circuit of 20% at Rs 208 on back of five-fold jump in trading volumes. A combined 476,093 shares changed hands and there were pending buy orders for 61,455 shares on the BSE and NSE.

Som Distilleries & Breweries locked in upper circuit of 20% at Rs 208, and Globus Spirits frozen 20% at Rs 105. Both these stock are trading at their 52-week highs on the BSE.

Globus Spirits counter has seen a combined 1.35 million shares changing hands thus far and there were pending buy orders for 229,389 shares on both the exchanges.

Globus Spirits is engaged in manufacturing, marketing and sale of Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL), bulk alcohol and contract bottling for established IMFL brands.

Since August 8, the stock of Globus Spirits rallied 48% from Rs 71 after the company had reported a strong 82% year on year (YoY) jump in net profit at Rs 6.32 crore, on back of 25% YoY growth in net sales at Rs 196 crore for the quarter ended June 30, 2016 (Q1FY17).

The company said that the capacity utilization improved significantly to 88% in Q1FY17 compared to 72% in Q1 FY16 resulting in higher production of 20 mn BL in Q1 FY17.