Liquor stocks fall after Madhya Pradesh proposes ban

Madhya Pradesh accounts for only 3-4% of liquor sales

Liquor stocks fell by as much as seven per cent on Monday after Madhya Pradesh (MP) proposed to close all liquor shops in the state in a phased manner. "Alcohol prohibition will be implemented in the entire state by closing all liquor shops in a phased manner," MP Chief Minister Shivraj Singh Chouhan said on Sunday at a programme. Shares of Radico Khaitan fell 7.3 per cent, United Spirits dropped 6.6 per cent and Globus Spirits fell 4.9 per cent. 

“In the first phase, the state government closed all the shops falling within a radius of five km from the banks