Indian liquor makers down after Maharashtra state raises excise duty on some products

United Spirits

11/06/2025 05:08

** Shares of Indian liquor makers fall

** United Spirits UNSP.NS sheds 5%, Radico Khaitan RADC.NS and United Breweries UBBW.NS down 1% each

** India's Maharashtra state will hike excise duty on Indian Made Foreign Liquor from 3 times to 4.5 times the declared production cost, office of the state's chief minister said in a post on X

** On an avg, UNSP and RADC rated "buy", UBBW rated "hold" - data compiled by LSEG

** YTD United Spirits and Radico Khaitan  down 6.3% and 1.1% respectively, United Breweries up 0.6%

(Reporting by Hritam Mukherjee and Vijay Malkar in Bengaluru)

((Hritam.Mukherjee@thomsonreuters.com;))