Brewery stocks are in very high spirits today, kicking and having a rollicking time! Yesterday, after market hours, the ruling of the Supreme Court (SC) came in – it dismissed a plea challenging the denotification of state highways into municipal roads within city limits. The SC said that there was nothing wrong with such reclassification as long as it was within city limits.
This ruling was in response to a plea filed by non-government organisation Arrive Safe Society against the Chandigarh government’s decision to denotify stretches of highways to avoid the ban on sale of liquor along highways.
Following this, Globus Spirits is up over 4.5% at Rs.77 levels, United Breweries rose up almost 2% to Rs815 while Tilaknagar is up 14% at over Rs.14 and Radico Khaitan was up almost 4% at Rs.138 levels.