India's United Breweries falls on suspending beer supply to Telangana Beverages Corp

United Spirits

08/01/2025 08:44

** Shares of Kingfisher beer maker United Breweries
 UBBW.NS  are down 3.3% to 2008 rupees  
    ** UBBW says it will suspend beer supply to Telangana
Beverages Corp (TGBCL) due to stagnant prices and unpaid dues
    ** TGBCL is a public sector company which controls the sale
of liquor and beer trade in the southern Telangana state
    ** Nearly 370,000 shares of Heineken-owned co traded as of
2:00 p.m. IST., more than 2x their 30-day avg  
    ** Stock rose 14% in 2024 compared to a 45% rise in rival
United Spirits  UNSP.NS 

 (Reporting by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))