Can Bira 91 deal trigger gains for alcohol stocks? Here's what charts say

After an exciting 2021, shares of major alcohol manufacturers have been under pressure so far this year. Here's what charts suggest is in store for them

Shares of alcohol manufacturers, have so far this calendar year been under pressure, with most of them logging negative returns on a YTD (year till date) basis. United Breweries is one exception, as the stock was up 4.6 per cent so far in 2022.

However, the recent acquisition by Bira 91 - the Indian craft beer brand manufacturer buying out 'The Beer Cafe' in an all-stock deal coiuld create some buzz in the sector and set the stocks soaring, charts suggest. The Beer Cafe is the biggest alcobev chain in Indian having a presence in Pub, Bars, Clubs, and Lounges