Preview: India's Sula Vineyards up 4% ahead of Q4 results

Sula Vineyards

03/05/2023 06:43

** Shares of Sula Vineyards Ltd  SULA.NS  rise as much as
4.5% to 406 rupees ahead of its March-qtr results
    ** Winemaker in April said its Q4 net revenue from its own
brands grew 15% y/y, revenue from wine tourism rose 18% 
    ** "SULA is well placed to leverage global consumer shift
towards low alcohol beverage segment - beer and wine, with huge
headroom to grow," - CLSA analysts said in a note in March
    ** Co reported a 15.5% y/y rise in profit for Dec-qtr, their
first earnings since going public in December last year
    ** Stock trading above its 50-day moving average
    ** Trading volume at ~656,000 shares, slightly below the
30-day avg of ~869,000 shares as of 10:40 a.m. IST 
    ** Stock up 9.7% so far for the qtr vs 10.5% for the
Jan-March qtr; up ~21% YTD



($1 = 81.7850 Indian rupees)

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))