Sula Vineyards announces expansion, shares rise

Sula Vineyards Limited’s shares were up by 1.26 per cent after the company announced an expansion with the establishment of its first Tasting Room and Bottle Shop outside its wineries.

The company reported that the establishment is positioned along the Mumbai–Agra highway near Nashik Airport and HAL Ozar. The move aims to meet the growing demand from the northern and eastern Nashik regions.

• Also read: Wine tourism gets a festive boost, Sula Vineyard reports record numbers 

The CEO envisions further expansion with plans for additional Tasting Rooms nationwide. The company further informed that the 2024 grape harvest anticipates record yields, with red grapes comprising 65 per cent of the total, indicating changing consumer preferences towards red wines. Syrah and Chenin Blanc emerge as the leading varieties.

In digital realms, Sula achieved eleventh ranking among the most-Instagrammed wine brands globally.

The shares were up by 1.26 per cent to ₹564.20 at 3:17 pm on the BSE.

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