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Liquor stocks slide after MP govt mulls ban

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Nine liquor stocks fell by 1.17% to 6.98% at 15:07 IST on BSE on reports Madhya Pradesh is headed towards total liquor prohibition.

Radico Khaitan (down 6.98%), United Spirits (down 5.29%), Associated Alcohols & Breweries (down 5%), Pioneer Distilleries (down 4.9%), Tilaknagar Industries (down 4.06%), G M Breweries (down 3.94%), United Breweries (down 3.5%) and Empee Distilleries (down 1.17%), edged lower. Khoday India was up 1.64%.

Meanwhile, the S&P BSE Sensex was down 126.05 points, or 0.42% at 29,580.56.

Madhya Pradesh is reportedly headed towards total prohibition with Chief Minister Shivraj Singh Chouhan announcing that all liquor shops would be closed across the state in a phased manner.

Alcohol prohibition will be implemented in the entire state by closing all liquor shops in a phased manner, Chouhan announced on Sunday, 9 April 2017, while addressing a programme at village Neemkhera (Heerapur) of Narsinghpur district. In the first phase, the state government closed all the shops falling within a radius of five kilometers from the banks of river Narmada on either side. In the next phase, the liquor shops would not be allowed to open in residential localities, near educational institutes or religious places, he reportedly said.

According to reports, a de-addiction drive would also be launched in the state.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, April 10 2017. 14:56 IST