Indian liquor-maker Radico Khaitan hits record high on Q2 profit rise

United Spirits

25/10/2024 05:21

** Shares of Radico Khaitan  RADC.NS  rises nearly 10% to a
record high of 2,524 rupees in early trade 
    ** Stock trims some gains to last trade 5% higher
    ** Stock top gainer on the Nifty FMCG index  .NIFTYFMCG ,
which is up 1.6%
    ** "Magic Moments" vodka-maker posts 24% rise in
second-quarter profit on increasing demand for its premium
alcohol
    ** RADC marks busiest week in 5 weeks, with over 2 mln
shares traded
    ** Analysts' avg rating on stock is "strong buy" vs "buy" on
peer United Spirits  UNSP.NS 
    ** Their median PT on RADC is 2,000 rupees - LSEG
    ** Stock up 47% YTD vs 4% rise in Nifty FMCG index 

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))