 "Liquor shares in focus; Pioneer Distilleries surges over 50% in four sessions")
Shares of liquor companies were in focus, rallying by up to 18% on the BSE in intra-day trade after the government of Kerala has decided not to shut down liquor outlets on Gandhi Jayanti.
United Spirits, Pioneer Distilleries, Globus Spirits, Som Distilleries & Breweries, Empee Distilleries and GM Breweries were trading higher between 5% and 17%, as compared to 0.28% rise in the S&P BSE Sensex at 10:56 am.
Tilaknagar Industries, Radico Khaitan, Jagatjit Industries, Pincon Spirit, Khoday India and United Breweries were up between 1% and 4%.
According to Business Standard reports, the Government of Kerala has decided not to shut down liquor outlets on October 2, as against the routine of last two years of shutting around 10 per cent of the shops on Gandhi Jayanti.
The decision not to shut down is expected to continue till a new Liquor Policy is brought in by the new government. The ruling Left Democratic Front (LDF), led by the Communist Part of India (Marxist) is in discussion to prepare the new policy and it is expected to come out in November this year, added sources. LINK
Pioneer Distilleries, a subsidiary of United Spirits, has rallied 18% to Rs 247 on the BSE in intra-day trade. The stock zoomed 57% in past four trading sessions from Rs 157 on September 29.
Globus Spirits hit a fresh 52-week high of Rs 116, up 10% on the BSE, gaining 32% in past three trading sessions from Rs 88 on September 26.
United Spirits, Pioneer Distilleries, Globus Spirits, Som Distilleries & Breweries, Empee Distilleries and GM Breweries were trading higher between 5% and 17%, as compared to 0.28% rise in the S&P BSE Sensex at 10:56 am.
Tilaknagar Industries, Radico Khaitan, Jagatjit Industries, Pincon Spirit, Khoday India and United Breweries were up between 1% and 4%.
According to Business Standard reports, the Government of Kerala has decided not to shut down liquor outlets on October 2, as against the routine of last two years of shutting around 10 per cent of the shops on Gandhi Jayanti.
The decision not to shut down is expected to continue till a new Liquor Policy is brought in by the new government. The ruling Left Democratic Front (LDF), led by the Communist Part of India (Marxist) is in discussion to prepare the new policy and it is expected to come out in November this year, added sources. LINK
Pioneer Distilleries, a subsidiary of United Spirits, has rallied 18% to Rs 247 on the BSE in intra-day trade. The stock zoomed 57% in past four trading sessions from Rs 157 on September 29.
Globus Spirits hit a fresh 52-week high of Rs 116, up 10% on the BSE, gaining 32% in past three trading sessions from Rs 88 on September 26.
| COMPANY | LATEST | PREV CLOSE | GAIN(%) |
| RAVIKUMAR DISTLL | 13.89 | 11.73 | 18.41 |
| PIONEER DISTIL. | 243.45 | 209.50 | 16.21 |
| GLOBUS SPIRITS | 112.80 | 104.70 | 7.74 |
| G M BREWERIES | 660.00 | 614.45 | 7.41 |
| UNITED SPIRITS | 2431.65 | 2305.05 | 5.49 |
| EMPEE DISTILL. | 71.30 | 68.35 | 4.32 |
| JAGATJIT INDS. | 74.55 | 71.50 | 4.27 |
| TILAKNAGAR INDS. | 18.60 | 17.85 | 4.20 |
| PINCON SPIRIT | 74.50 | 71.85 | 3.69 |
| SOM DISTILLERIES | 175.25 | 170.65 | 2.70 |
| UNITED BREWERIES | 928.15 | 904.00 | 2.67 |
| KHODAY INDIA | 66.50 | 64.90 | 2.47 |
| RADICO KHAITAN | 127.20 | 125.75 | 1.15 |