On heavy volumes in the pack, breweries and alcohol gained in session today on September 2, 2021. In fact some of the stocks in the space are seeing only buyers say for instance in Globus Spirits, GM Breweries, Piccadilly Agro among others.
The stocks from the space are on a roll on faster recovery as multiple states have opened up their economy after the Covid second wave. Individually, Uniter Breweries has hit a 52-week high. Furthermore, Globus Spirits also hit a 52-week high of Rs. 1056.75. Others like Radico Khaitan gained over 2 percent in trade today.
The outlook for the sector is positive given a host of tailwinds including economic recovery, expanding set of middle class base, rising disposal income and given the fact that amid the uncertainty caused due to the pandemic, people are believing to live in the moment and enjoying with faster adoption of these drinks and beverages in social circle. Analysts, expect the liquor market to further gain with the increase in consumption in the rural areas too.