Shares of liquor companies have rallied by up to 12 per cent on BSE today amid reports that the Supreme Court has clarified the liquor ban on highways does not extend to municipal areas.
The stock of United Spirits climbed by 3.89 per cent to settle at Rs 2,567.65 on the BSE. In the intra-day trade, the scrip had risen 5.51 per cent to Rs 2,607.90.
GM Breweries' scrip swelled by 5.03 per cent to close at Rs 421.75. During the trading session, the stock had touched a high of Rs 444 and a low of Rs 412.35.
Among other liquor stocks, Globus Spirits witnessed a maximum gain of 12.10 per cent to close at Rs 72.70, while Pincon Spirit advanced 9.99 per cent to Rs 47.90. Besides, Empee Distilleries rose 3.68 per cent higher followed by Som Distilleries & Breweries (3.39 per cent), Pioneer Distilleries (2.68 per cent), Winsome Breweries (2.44 per cent), Khoday India (2.24 per cent), Tilaknagar Industries (1.93 per cent) and Radico Khaitan (1.85 per cent).
According to media reports, the Supreme court on Wednesday clarified that the liquor ban on highways did not apply to licensed establishments falling within municipal areas.
The order to ban liquor outlets within 500 metres of national and state highways from April 1 was first issued on December 15, 2016.
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