The stock of Radico Khaitan has found the support of its rising trend line and has also formed a reversal candle on the daily chart
The management remains confident of outperforming the industry and strengthen market share in the years to come
Banknifty has also started joining the market rally
Its total revenue from operations declined 33.70% to Rs 1,774.65 crore during the quarter under review as against Rs 2,677.07 crore in the corresponding quarter last year
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
Analysts say alcohol sales could be an early beneficiary of overall recovery
The stock rallied 6.5% to Rs 436 on the BSE on the back of heavy volumes.
Radico Khaitan standalone net profit rises 27.05% in the September 2017 quarter
On April 20, Madhuri Madhusudan Kela bought 704,741 shares at Rs 117 per share on the NSE.
The stock was trading 1% higher at Rs 135, falling 5% from intra-day high on the BSE.
Stock of the company were trading at Rs 96.4 on BSE, up 3.60% from its previous close