Liquor stocks in a tizzy

If people thought they could drink their fears away, the Govt decided to plug that too.

In Mumbai and Pune and across Maharashtra, Govt has asked pubs, restaurants and bars to shut down to restrict the community spread of the virus. For now, they will remain shut till the 31st of March. Malls in the state were as such shut down since last week.

The National Restaurant Association of India (NRAI) that represents the interests of over 500,000 restaurants in the country has advised its member restaurants to shut their eateries, bars, pubs, cafes starting tomorrow till March 31st – this is voluntary but many are following the advice and shutting down because footfalls as such have gone down dramatically.

With pubs also closing down, today the liquor stocks are in a tizzy. United Spirits hit a new 52-week low at Rs.476.25. United Breweries hit a new low at Rs.758.75 but from there jumped into the green. Globus Spirits also hit a new low at Rs.64.85. Radico Khaitan is trading in the red but did not hit a new low, yet.