te Liquor share prices soar up to 20% intraday today, Globus Spirits, Radico Khaitan hit new record high | Zee Business

Liquor share prices soar up to 20% intraday today, Globus Spirits, Radico Khaitan hit new record high

Led by Globus Spirits on the back of strong results, the breweries and distilleries shares were on a roll during an intraday trade today. The liquor companies’ shares grew between 20 to three per cent in an otherwise subdued market as the BSE Sensex fell by 0.34 per cent on Thursday. 

Liquor share prices soar up to 20% intraday today, Globus Spirits, Radico Khaitan hit new record high
Globus Spirits is the largest grain-based ENA manufacturer in India: PTI

Led by Globus Spirits on the back of strong results, the breweries and distilleries shares were on a roll during an intraday trade today. The liquor companies’ shares grew between 20 to three per cent in an otherwise subdued market as the BSE Sensex fell by 0.34 per cent on Thursday. 

Amid strong Q4 results on Tuesday, Globus Spirits hit an upper circuit of 20 per cent to Rs 531.3 per share. While Radico Khaitan and Associated Alcohols & Breweries hitting a new 52-week high, jumped near 10 per cent to Rs 803 per share on the BSE intraday today. 

Individually, Globus Spirits rallied over 36 per cent in the last four sessions, as the company, on the back of strong revenue, reported over two-fold rise in consolidated profit at Rs 50.63 crore in the March-ended of FY21 versus Rs 19.35 crore in the same period a year ago.  

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The EBITDA margin of the company grew by over 1,140 bps year-on-year to 24.9 per cent in the fourth quarter of FY21 from 13.5 per cent in Q4 FY20 amid a higher share of consumer business and better realisations on ENA (Extra Neutral Alcohol) and ethanol.  

Globus Spirits is the largest grain-based ENA manufacturer in India with a capacity of 160 million litres. The company has a presence in Rajasthan, Haryana, Bihar, and West Bengal. 

Meanwhile, Franklin Strategic Emerging Markets Fund IV, in the past two days, sold 799,000 shares, representing a 2.7 per cent stake in the company through a bulk deal on the NSE.  

On the other hand, United Breweries, United Spirits, Pioneer Distilleries and Som Distilleries and Breweries shares were trading higher in the range of 1 per cent to 3 per cent, as compared to BSE Sensex 0.66 per cent lower at 52,158 points at around 02:30 pm during today’s trade.

(Authored by Vaibhav Bansode)

Reported By: ZeeBiz WebTeam
Written By: ZeeBiz WebTeam
Edited By: Prashant V. Singh
Updated: Thu, Jun 17, 2021
05:23 pm
Mumbai, ZeeBiz WebDesk
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