 "Radico Khaitan clarifies on stake sale buzz; stock erases gains")
Shares of Radico Khaitan pared most of intraday gains after the company clarified that the news report of Bacardi India being in preliminary talks to buy stake in the company is factually incorrect.
The stock had rallied over 6% to Rs 142 in intraday deals, but was up just 1% in the afternoon trade.
“We are not aware of any information that has not been announced to the stock exchanges, which would explain the movement in the trading of company’s shares,” Radico Khaitan said in a BSE filing after the stock exchange sought clarification with regard to same news flashed on ET Now.
The trading volumes on the counter more than doubled with combined 4.61 million shares changed hands on the NSE and BSE till 01:40 pm.
Radico Khaitan has four millionaire brands 8 PM Whisky, Magic Moments Vodka, Contessa Rum and Old Admiral Brandy in its portfolio. The company operates three distilleries and one JV with total capacity of 150 million litres. It also has 33 bottling units spread across the country.
The stock had rallied over 6% to Rs 142 in intraday deals, but was up just 1% in the afternoon trade.
“We are not aware of any information that has not been announced to the stock exchanges, which would explain the movement in the trading of company’s shares,” Radico Khaitan said in a BSE filing after the stock exchange sought clarification with regard to same news flashed on ET Now.
The trading volumes on the counter more than doubled with combined 4.61 million shares changed hands on the NSE and BSE till 01:40 pm.
Radico Khaitan has four millionaire brands 8 PM Whisky, Magic Moments Vodka, Contessa Rum and Old Admiral Brandy in its portfolio. The company operates three distilleries and one JV with total capacity of 150 million litres. It also has 33 bottling units spread across the country.
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