Liquor stocks decline; Pioneer Distilleries drops 2%

The hike, which ranges from 4-25% on the MRP depending on the type of alcohol, is expected to bring in additional revenue of around Rs500-600cr annually, the report said.

Jan 01, 2019 01:01 IST India Infoline News Service

United Breweries
Liquor stocks declined during the afternoon session on Tuesday as a media report stated that the Maharashtra government has raised the excise duty on Indian-made foreign liquor (IMFL) by 20% from today.

The hike, which ranges from 4% to 25% on the MRP depending on the type of alcohol, is expected to bring in additional revenue of around Rs500-600cr annually, the report said.

Reacting to this news, all the below-mentioned stocks slipped.

United Breweries Ltd is currently trading at Rs1,368.10 down by Rs8.65 or 0.63% from its previous closing of Rs1,376.75 on the BSE.

Globus Spirits Ltd is currently trading at Rs163.50 down by Rs3.05 or 1.83% from its previous closing of Rs166.55 on the BSE.

Pioneer Distilleries Ltd is currently trading at Rs171.25 down by Rs4.25 or 2.42% from its previous closing of Rs175.50 on the BSE.

United Spirits Ltd is currently trading at Rs622.50 down by Rs12.3 or 1.94% from its previous closing of Rs634.80 on the BSE.

Radico Khaitan Ltd is currently trading at Rs397 down by Rs3.5 or 0.87% from its previous closing of Rs400.50 on the BSE.

G M Breweries Ltd is currently trading at Rs751.75 down by Rs8.7 or 1.14% from its previous closing of Rs760.45 on the BSE.

Related Story