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Bihar alcohol ban: United Spirits, Radico Khaitan's stock falls

The shares of two liquor companies plunged on the BSE after Bihar Chief Minister Nitish Kumar made an official announcement of imposing a liquor ban in the state from April 1, 2016.

DNA Web Team

Updated : Mar 20, 2018, 06:41 AM IST

The shares of two liquor companies plunged on the BSE after Bihar Chief Minister Nitish Kumar made an official announcement of imposing a liquor ban in the state from April 1, 2016.

A ban on liquor was promised by the Chief Minister during the recent elections.

Reacting to the news, liquor major United Spirits' shares fell to an intraday low of Rs 3,180.15, down 5.66% from the previous day's close. At 1435 hours, the shares of the company were slightly higher at Rs 3,195.15, still down 5.22% or Rs 176.05 lower from the previous day's close.

The shares of liquor manufacturing company, Radico Khaitan slipped 12.79% to an intraday low of Rs 107.10 a piece. At 1435 hours, the shares were trading at Rs 113.70 a piece, down 7.37% or Rs 9.05 lower from the previous day's close.

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