Exchange seeks clarification from Radico Khaitan on 'New Product Launch'; Stock under pressure

The company is required to provide the date of launch and whether it caters to domestic/international market.

Oct 13, 2021 03:10 IST India Infoline News Service

Radico Khaitan
The Exchange has sought clarification from Radico Khaitan Limited with respect to the announcement dated October 11, 2021, regarding ‘New Product Launch’. On basis of the above the Company is required to clarify the following:
  • Date of launch;
  • Whether caters to domestic/ international market;
  • Name of the countries in which the product is launched (in the case of international).
Towards close of trade on Wednesday, Radico Khaitan Ltd was trading at Rs1,130.95 per piece down by Rs42.25 or 3.6% from its previous closing of Rs1,173.20 per piece on the BSE. The company stock had hit new 52-week high of Rs1,215.00 per piece on Tuesday after the product launch annoucement.

The response of the Company is awaited, Exchange said. The company on Monday announced unveiling two new luxury products in the brown and white spirit categories. Magic Moments Dazzle Vodka, the luxury brand extension of the company’s flagship brand, Magic Moments Vodka and Royal Ranthambore Heritage CollectionRoyal Crafted Whisky mark the onset of the festival season for Radico Khaitan who has been synonymous with innovation and premium quality offerings to the Indian spirits market.

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