India's United Breweries jumps after resuming beer supply to Telangana

United Breweries

20/01/2025 06:04

** Shares of United Breweries  UBBW.NS  rise 5% to 2,045.7
rupees 
    ** Uptick after India's biggest beer co says it has decided
to resume supply of beer to Telangana Beverages Corp (TGBCL)
    ** Heineken-owned  HEIN.AS  UBBW had suspended beer supply
to southern Indian state of Telangana on Jan. 8, following the
state's refusal to allow price rises
    ** UBBW says it decided to resume supply of beer to
Telangana after constructive discussion with TGBCL
    ** TGBCL assured to address issues on pricing and
outstanding payments in a time-bound manner, UBBW says
    ** UBBW had lost about 6% since Jan. 8, as of last close
    ** UBBW is the top gainer on consumer index  .NIFTYFMCG  on
the day, NIFTYFMCG down 0.2% - LSEG data

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