The huge fall in the global market also affected the Indian stock market on Thursday. However, by the time the market closed, the Sensex closed at 80,039, down 109 points, while the Nifty closed at 24,406, down 7 points. Bank Nifty closed at 50,888, down 428 points. However, amidst this fall, the shares of liquor companies saw a great rise.
Actually, a report has had an impact on the shares of these liquor companies. Shares of Tilaknagar Industries Limited, United Spirits Limited, United Breweries Limited (UBL), Radico Khaitan Limited rose up to 8 percent. Shares of Tilaknagar Industries rose 8.48 percent to Rs 262. United Spitits rose 4.62 percent to Rs 1,449.45, United Breweries rose 2.41 percent and Radico Khaitan rose 1.29% to Rs 1,742.75.
Why did these shares rise?
According to an informant source based report, Chief Minister N Chandrababu Naidu is keen to change the state’s excise policy, he said that soon a new policy will be announced which will revise the procurement, fixed price and quality standards. Along with this, liquor consignment can be ordered from outside brands along with local brands. As soon as this report came, the shares of liquor companies are seeing a tremendous rise.
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According to reports, state government officials have already started talks with popular distilleries and breweries so that they can resume supplies. Reports suggest that CM Naidu presented a white paper in the state assembly on issues related to the excise department and liquor procurement and pricing.
This stock crossed Rs 1700 from Rs 7
Shares of Radico Khaitan, a liquor manufacturer, have given investors tremendous profits in the last few years. On 20 January 2003, its shares were at Rs 7.62 per share, but now they have reached the price of Rs 1742. During this period, Radico Khaitan has given a return of 22,760.89%. Its 52-week high level is Rs 1,885.10 and the lowest level is Rs 1,141.25 per share. In five years, it has given a return of 474 percent, while in one year it has given a return of 25 percent.
(Note- Before making any kind of investment in the stock market, please consult your market expert)