Pincon Spirit ties up with Nethravathi Distilleries; shares up 3%

Shares of Pincon Spirit rose nearly 3 percent intraday Tuesday as the company tied up with Nethravathi Distilleries for supply of goods in Kerala.

“The company has undergone a bottling tie-up with Nethravathi Distilleries situated at Bangalore Mangalore Road, Avargere Village, Kunigal Taluk, Kunigal, Karnataka for supply and distribution of goods in the state of Kerala,” as per company release.

Earlier, the company’s monthly production capacity of Asansol Unit has been increased from 12 lakh bottles to 40 lakh bottles. An auto line has also been installed which will help to boost the market penetration in South Bengal.

At 11:13 hrs Pincon Spirit was quoting at Rs 74, up Rs 1.45, or 2 percent on the BSE.

Posted by Rakesh Patil