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Liquor Stock: Globus Spirits Zooms To Hit New 2-Week High

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Globus Spirits' stock rose more than 8% in the morning session on June 18 to a new 52-week high of Rs 584.40. At 11.30 hours, the stock was trading at Rs 563, up Rs 31.75, or 6.11 percent, after surging more than 36% in the previous three days.

 

Globus Spirits' stock rose 10% in intraday trade on the National Stock Exchange (NSE) on Friday, reaching a new high of Rs 584.

Liquor Stock: Globus Spirits Zooms To Hit New 2-Week High
Globus Spirits: Quotes, News
BSE 721.10BSE Quote3.65 (-0.51%)
NSE 722.70NSE Quote0.35 (-0.05%)

Since announcing a more-than-doubled consolidated profit after tax (PAT) of Rs 50.63 crore in the March quarter (Q4FY21) on the basis of robust revenue, the stock has increased by 50% in a week. In the previous quarter, it generated a PAT of Rs 19.35 crore.

On the back of solid profits and expectations of increased demand for premium and high-priced booze, stocks on the BSE soared up to 20% in intraday trade on Thursday, in an otherwise poor market.

Globus Spirits, with a capacity of 160 million litres, is India's largest grain-based ENA producer. Rajasthan, Haryana, Bihar, and West Bengal are all served by the company.

Globus Spirits has benefited from the changing dynamics in the booze industry, according to experts at ICICI Direct. The management has been on the cutting edge of seizing chances.

Read more about: globus spirits
Story first published: Friday, June 18, 2021, 12:10 [IST]
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