Shares of Sula Vineyards rose up to 8% on August 20 after CNBC-TV18 reported, citing sources, that the wine maker is exploring diversification by entering premium spirits market.
Sula Vineyards is in talks to acquire 2-3 small brands to enter whisky, scotch and vodka segments, the channel reported.
Sula is expected to finalise the acquisition 'soon', reported CNBC-TV18 adding that Sula aims to leverage its existing distribution network.
At 2:10 pm on August 20, Sula Vineyards shares were trading 4.4% higher at Rs 261.8 apiece after hitting day's high of Rs 272.8.
Sula has 25,000 POS touchpoints across 23 states and seven union territories.
"We do not comment on market speculation, management continually evaluates opportunities to boost rev, profitability, and shareholder value," Sula Vineyards told CNBC-TV18.
Sula Vineyards Ltd reported a mixed set of numbers for the quarter ended June 2025, with consolidated net revenue falling 7.9% YoY to Rs 118.3 crore as compared to Rs 128.4 crore in Q1FY25.
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