Som Distilleries gains after excise dept nod

Som Distilleries & Breweries rose 3.09% to Rs 245.45 at 14:58 IST on BSE after the company said it received approval from the excise department to start manufacturing operations in a unit in Karnataka.

The announcement was made during trading hours today, 15 March 2018.

Meanwhile, the S&P BSE Sensex was down 76.62 points, or 0.23% to 33,759.12.

On the BSE, 22,000 shares were traded in the counter so far compared with average daily volumes of 16,000 shares in the past two weeks. The stock had hit a high of Rs 252 and a low of Rs 235.20 so far during the day. The stock hit a 52-week high of Rs 299 on 23 January 2018. The stock hit a 52-week low of Rs 115.50 on 8 May 2017.

Som Distilleries & Breweries said it got the approval from the excise department for starting manufacturing operations in subsidiary, Woodpecker Distilleries and Breweries, at Hassan in Karnataka.

On a consolidated basis, net profit of Som Distilleries & Breweries rose 124.56% to Rs 3.84 crore on 50.11% rise in net sales to Rs 65.33 crore in Q3 December 2017 over Q3 December 2016.

Som Distilleries & Breweries is a brewing company.

Powered by Capital Market - Live News