Liquor stocks trade lower after the Supreme Court order banning liquor shops along state and national highway from 1 April. United Spirits Ltd shares fall 5%, Pioneer Distilleries 1.1%, Globus Spirits 2.2%, Empee Distilleries 5.5%, GM Breweries 1%, Tilaknagar Industries 2.1%, Radico Khaitan 5.6%, Pincon Spirit 1.6% and United Breweries 1.2%
The Supreme Court has announced that it will not exempt hotels and restaurants from a ban on liquor vends within 500 metres of national and state highways from April 1. This could result in a large scale retrenchment of employees from the hospitality sector, according to sources from the industry.
