Shares of liquor companies have rallied by up to 12 per cent on BSE on Thursday amid reports that the Supreme Court has clarified the liquor ban on highways does not extend to municipal areas.
The stock of United Spirits climbed by 3.89 per cent to settle at Rs 2,567.65 on the BSE. In the intra-day trade, the scrip had risen 5.51 per cent to Rs 2,607.90.
GM Breweries’ scrip swelled by 5.03 per cent to close at Rs 421.75. During the trading session, the stock had touched a high of Rs 444 and a low of Rs 412.35.
Among other liquor stocks, Globus Spirits witnessed a maximum gain of 12.10 per cent to close at Rs 72.70, while Pincon Spirit advanced 9.99 per cent to Rs 47.90.