Shares of alcohol companies like Globus Spirits, GM Breweries, and Radico Khaitan surged between 8% and 20% on Friday. This boost came after the government lifted a ban on using sugarcane juice and sugar syrup for ethanol production for the 2024-25 supply year. Additionally, the government allowed the sale of up to 23 lakh tonnes of rice from the Food Corporation of India’s reserves.
Globus Spirits saw its shares hit the 20% upper limit, reaching Rs 1080.10, the highest since August 11, 2023. GM Breweries’ stock rose over 10% to Rs 946.8, its highest since July 3. Radico Khaitan shares climbed 8.7% to a record high of Rs 1,975.75. Tilaknagar Industries also reached a two-month high.
