Liquor stocks slip after K’taka proposes tax hike

H.D. Kumaraswamy has imposed an additional excise duty of 4% on Indian Made Foreign Liquor (IMFL) on all 18 slabs, over and above the existing excise duty, as per media reports.

Jul 05, 2018 07:07 IST India Infoline News Service

United Breweries
All major liquor stocks fell significantly on Thursday as Karnataka government proposed a 4% tax hike on liquor in its budget for 2018.

Chief Minister H.D. Kumaraswamy has imposed an additional excise duty of 4% on Indian Made Foreign Liquor (IMFL) on all 18 slabs, over and above the existing excise duty, as per media reports.

Pincon Spirit Ltd is currently trading at Rs7.67 down by Rs0.4 or 4.96% from its previous closing of Rs8.07 on the BSE. The scrip opened at Rs7.67 and has touched a high and low of Rs7.67 and Rs7.67 respectively.

United Spirits Ltd is currently trading at Rs644.30 down by Rs23.1 or 3.46% from its previous closing of Rs667.40 on the BSE. The scrip opened at Rs665 and has touched a high and low of Rs665 and Rs630 respectively.

G M Breweries Ltd is currently trading at Rs885 down by Rs30.9 or 3.37% from its previous closing of Rs915.90 on the BSE. The scrip opened at Rs922 and has touched a high and low of Rs922 and Rs870 respectively.

United Breweries Ltd is currently trading at Rs1,150 down by Rs28.5 or 2.42% from its previous closing of Rs1,178.50 on the BSE. The scrip opened at Rs1,194 and has touched a high and low of Rs1,194 and Rs1,149.45 respectively.

Empee Distilleries Ltd is currently trading at Rs17.50 down by Rs0.2 or 1.13% from its previous closing of Rs17.70 on the BSE. The scrip opened at Rs16.95 and has touched a high and low of Rs18.15 and Rs16.95 respectively.

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