Liquor stocks fall for second straight day as some states hike excise duty

United Breweries, Radico Khaitan, United Spirits, GM Breweries, Associated Alcohols & Breweries and Globus Spirits declined between 3 per cent and 7 per cent on the BSE

Shares of liquor companies were under pressure for second straight day on Wednesday after some state governments hiked excise duty on liquor.

United Breweries, Radico Khaitan, United Spirits, GM Breweries, Associated Alcohols & Breweries and Globus Spirits declined between 3 per cent and 7 per cent in intra-day trade on the BSE. In comparison, the S&P BSE Sensex was up 1.2 per cent or 402 points at 31,855 at 12:26 pm. On Tuesday, these stocks had ended lower in the range of 3 per cent to 8 per cent on the BSE.

In the five trading days prior