Sula Vineyards, GM Breweries shares jump up to 18%. What's making their brew stronger?
Live Events
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
Shares of Sula Vineyards and GM Breweries soared up to 18% on Tuesday, defying the broader sell-off in liquor stocks , as investors cheered Maharashtra's latest liquor policy shake-up that spared beer and wine from a steep excise duty hike Sula, which had been under pressure in recent months, jumped as much as 13% to Rs 335.45 on the BSE, while GM Breweries surged 16%. Meanwhile, industry giants United Spirits and Allied Blenders dropped up to 7% in reaction to the policy shift.The Maharashtra government raised the excise duty on Indian-made Foreign Liquor (IMFL) from three times to 4.5 times the declared manufacturing cost. But beer and wine were notably exempted from this hike, a move that sent investors rushing toward companies like Sula and GM Breweries, which stand to gain from their focus on those categories.GM Breweries, in particular, caught the market's attention with expectations that it could benefit from the introduction of a new category: Maharashtra-made Liquor (MML). This grain-based spirit will be produced by local manufacturers, though it will require fresh registrations. GM, known for its strong country liquor portfolio, is expected to adapt quickly to this change.In contrast, the policy dealt a blow to larger IMFL players, who are more exposed to the newly increased duty structure.Reports said beer, which has a lower alcohol content, was excluded from the hike as its retail price in Maharashtra is already among the highest in the country. As for wine, the state reaffirmed its long-standing support for the industry, citing its economic linkages: a majority of India's wineries and grape farmers are based in Maharashtra.The new excise structure has shaken up sentiment across the liquor sector, sharply dividing the winners from the losers. And for now, wine and country liquor players appear to be raising their glasses.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
43 minutes ago
- India.com
Mukesh Ambani is preparing to expand business with this Chinese company, its name is…, plan is to…
Mukesh Ambani is preparing to expand business with this Chinese company, its name is…, plan is to… Once a popular destination for trendy and affordable styles, Shein faced a setback when it was banned in India. By Abhijeet Sen Edited by Abhijeet Sen Advertisement Mukesh Ambani- File image Mukesh Ambani brings back Shein: In a significant development in India's fast fashion industry growth, Reliance Industries Chairman and India's richest man, Mukesh Ambani has partnered with Shein, the Singapore-headquartered Chinese fast‑fashion company for fast-fashion industry. As per the agreement, both Shein India and Reliance Retail are expected to scale India's garment supplier base from about 150 to 1,000 factories within a year. Here are all the details you need to know about the expansion plan of Mukesh Ambani's Reliance Retails with Chinese company Shein. Readers must note that Shein, the global Chinese brand, famous for selling affordable clothing such as $5 dresses and $10 jeans directly from 7,000 suppliers in China is re-entering the Indian market (post its 2020 ban) through a licensing deal. Advertisement === About Shein Once a popular destination for trendy and affordable styles, Shein faced a setback when it was banned in India. Though Shein is poised to re-enter the Indian market soon, the GenZ fashion landscape has evolved significantly over the last few years paving the way for several strong players in fashion to establish themselves. Mostly popular among 'under 30', Shein taps into the trends with daily fresh drops at affordable prices, making it a brand to reckon with, globally. Shein's model appeals to Gen Z's desire for quick trend adoption and constant variety, especially for its low-cost styles. Advertisement === Mukesh Ambani's Shein vs Ratan Tata's Zudio Shein's biggest competitor is going to be Ratan Tata's Zudio. The brand is famous for shoppers who seek trendy apparel at affordable prices. Zudio has quickly established itself as a go-to destination, focusing on offering fashionable clothing that is accessible to all, without compromising on style. The brand's collections, which are frequently updated, cover a wide range of categories including casual wear, workwear, and more, a report by IANS news agency said. Zudio appeals to a diverse customer base, making it easy for shoppers to stay stylish wherever they are with its network of over 550 stores with emphasis on affordability which has made it one of the sought-after brands for modern Indian consumers. (With inputs from agencies)
India.com
43 minutes ago
- India.com
After Ratan Tata's TCS, this company gets land in Andhra Pradesh for less than a rupee; to invest Rs 15820000000 in..., company is...
Andhra Pradesh CM Chandrababu Naidu New Delhi: In a major move that promises to generate thousands of jobs, technology giant Cognizant is likely to set up a world-class IT/ITES campus in Andhra Pradesh's Visakhapatnam. The company will invest around Rs 1,582.98 crore. According to a Times of India report, the project is expected to generate over 8,000 jobs. To recall, a few months back, the Chandra Babu Naidu-led Andhra Pradesh government announced that it would allocate land at just 99 paisa to Cognizant IT Solutions for this project. A similar deal has also been made with Tata Consultancy Services (TCS) where the government has decided to sell 21 acres of land for 99 paise each. The bold move indicates that the state is aiming to establish itself as a tech hub in India. Cognizant's Big Plan: Here are some of the key details: Cognizant has proposed a huge investment in Visakhapatnam The company has asked for 21.31 acres of land at Kapuluppada under the Visakhapatnam Metropolitan Region Development Authority (VMRDA). With this move, Cognizant aligns its strategy to optimise real estate costs. In May 2023, Chief Executive Ravi Kumar S said the firm would relinquish 11 million square feet of office space globally, especially in India's largest cities, while investing in tier-2 cities. Cognizant is targeting 2025 annual revenue between $20.5 billion and $21.0 billion, compared to the previous outlook of the midpoint of $20.30 billion to $20.80 billion. Cognizant plans to begin commercial operations by March 2029 The entire project being 100 percent self-funded, indicating the MNC's long-term commitment to Andhra Pradesh. The announcement comes just months after India's tech leader, Tata Consultancy Services, disclosed plans for a 13.70 billion rupee campus in the same city, which is expected to generate about 12,000 jobs. Globally, IT companies, including those in India, are taking cost-cutting measures such as monetising real estate assets and slowing down salary increments amid demand uncertainty.
Time of India
an hour ago
- Time of India
MNRE launches ₹2.3 cr Start-Up Challenge to accelerate rooftop solar and distributed energy innovation
NEW DELHI: In a major push to catalyze innovation in India's clean energy sector, the Ministry of New and Renewable Energy (MNRE) has launched the Innovative Projects Start-Up Challenge with a total prize pool of ₹2.3 crore. The initiative aims to discover cutting-edge solutions to scale up rooftop solar (RTS) and distributed renewable energy (DRE) technologies across the country, according to an official release on Saturday. The challenge was formally announced during the National Conference on Skill Development for the Renewable Energy Workforce, held at Atal Akshay Urja Bhawan in the capital. It is being implemented with support from the National Institute of Solar Energy (NISE) and coordinated through the StartUp India platform under DPIIT. Four Key Focus Areas for Innovation The Start-Up Challenge invites applications from Indian innovators and start-ups across four mission-critical categories: Affordability: Innovations that make rooftop solar more accessible to low- and middle-income households through modular systems, circular economy practices, and novel financing models. Resilience: Technologies that improve grid stability, enhance cybersecurity, and ensure climate resilience, especially for remote and vulnerable communities. Inclusivity: Community-based models like virtual net metering and inclusive financing to widen solar access in underserved regions. Environmental Sustainability : Eco-friendly approaches such as solar panel recycling, land-neutral deployments, and hybrid renewable systems. Start-ups from diverse sectors including green tech, IoT, AI, blockchain, energy hardware, fintech, and waste management are encouraged to apply. Prize Money and Incubation Support Winners of the challenge stand to gain significant financial and institutional support: 1st Prize: ₹1 crore2nd Prize: ₹50 lakh3rd Prize: ₹30 lakh10 Consolation Prizes: ₹5 lakh each In addition to the monetary awards, selected participants will receive incubation support, pilot implementation opportunities, and mentorship from domain experts and investors. Challenge Timeline Application Deadline: August 20, 2025 Results Announcement: September 10, 2025 Apply via: Startup India Portal Driving India's Energy Transition The ministry said this initiative reflects MNRE's continued commitment to building a robust innovation ecosystem for India's clean energy future. By fostering scalable, inclusive, and sustainable solutions, the government aims to make rooftop solar and DRE mainstream components of India's renewable energy mix, it added.
