India's liquor makers fall on reports of Karnataka plan to hike duties

Som Distilleries and Breweries

07/07/2023 08:48

** Shares of liquor makers such as United Breweries
 UBBW.NS , United Spirits  UNSP.NS , Som Distilleries  SDB.NS 
and Radico Khaitan  RADC.NS  down 2.5%-6%
    ** Media reports says Karnataka state budget proposed to
hike its additional excise duty on Indian-made liquor by 20%
    ** Additional excise duty on beer to be increased to 185%
from 175%, reports say
    ** UBBW, UNSP, SDB and RADC among top losers on FMCG index
 .NIFTYFMCG , which is down 1.08% - Refinitiv data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))