India's Globus Spirits gains on drop in rice price for ethanol distilleries

Globus Spirits

20/01/2025 07:09

Jan 20 (Reuters) - 
  
    ** Globus Spirits  GLOS.NS  jumps nearly 18% to 932.20
rupees, set for biggest single-day gain in nearly 5 months
    ** Alcohol maker says consumer affairs ministry has reduced
price of rice supplied to ethanol distilleries
    ** Price for rice, a key raw material for GLOS, cut to 22.50
rupees/kg from 28 rupees, helping company's profitability
    ** ~1.3 million shares traded, 4.5x the 6-month daily avg
    ** Stock fell 0.6% in 2024

 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com;))