Stocks

Liquor cos' shares tumble as top court upholds Kerala alcohol policy

Reuters | Updated on March 12, 2018

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Stocks of major spirits companies fell today after the Supreme Court upheld Kerala government’s policy to allow only bars at 5-star hotels to operate.

United Breweries Ltd ended down 0.71 per cent or Rs 6.75 at Rs 940.60 on the BSE. There was a spurt in volume by over 4.13 times.

United Spirits Ltd lost 2.69 per cent or Rs 82.40 to end at Rs 2,982.45. Trading volumes in the counter saw a spurt of over 2.25 times.

Radico Khaitan shares ended down 0.75 per cent or Rs 0.85 at Rs 111.85.

Kerala introduced a policy last year to become alcohol-free within 10 years.

According to the rule, sale of alcohol is permitted only in 5-star hotels. The policy was challenged by small bar owners who lost their case in the Kerala High Court.

Kerala has the country's highest alcohol consumption per capita.

Published on December 29, 2015

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