Other liquor stocks like Allied Blenders & Distillers, Radico Khaitan and United Spirits strongly tumbled on the back of the rise in duty on Indian Made Foreign Liquor.
Liquor stocks: Strong Q4 reinforces sector's structural uptrend, though competition from UK imports could test pricing power
The Indian alcoholic beverage industry expressed concern over the duty cuts agreed in the FTA.
The listed liquor companies reacted positively to the development and their scrips rose in Thursday's trading session, tracking positive momentum in the segment.
Research firm feels the company will have to raise prices by 2-4 percent across brands to maintain realisation before margin, but volumes could take a hit.
Market expert SP Tulsian shares his views on liquor and chemical companies' stocks. He expect Bihar government to move Supreme Court against the Patna High Court striking down Bihar‘s liquor ban.