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Business Standard
a day ago
- Business
- Business Standard
Liquor stock zooms 119% from April low; nears new high post clarification
Tilaknagar Industries share price today Shares of Tilaknagar Industries, which sells Mansion House brandy, moved higher by 7 per cent to ₹449.45 on the BSE in Tuesday's intra-day trade amid heavy volumes after the company said it did not receive any communication or information from any regulatory authority or enforcement agency. The stock price of the Indian-Made Foreign Liquor (IMFL) manufacturer was quoting higher for the past seven trading days, surging 33 per cent during the period. The stock has more-than-doubled or zoomed 118 per cent from its 52-week low of ₹205 touched on April 7, 2025. The stock was trading close to its record high level of ₹457.30 touched on January 3, 2025. At 10:38 AM; Tilaknagar Industries was trading 7 per cent higher at ₹448.80 as against 0.09 per cent rise in the BSE Sensex. The average trading volumes at the counter jumped 1.5 times. A combined 7.12 million equity shares of Tilaknagar Industries changed hands on the NSE and BSE. Clarification on Tilaknagar Industries named in Andhra liquor scam On Monday, the stock price of Tilaknagar Industries ended 5.5 per cent higher at ₹396.85 on the BSE. However, it closed lower by nearly 6 per cent from its intra-day trade high of ₹443.55, amid media reports that Tilaknagar Industries among a dozen alcohol firms have been named in Andhra Pradesh liquor scam. On media reports, the company on Monday after market hours informed stock exchanges that the company has noticed certain media reports suggesting that Tilaknagar Industries has been named in a chargesheet filed by the Andhra Pradesh police in respect of the ongoing inquiry into the alleged malpractices pertaining to liquor trade in the state. 'We would like to place on record that the company has not received any communication or information to this effect from any regulatory authority or enforcement agency, till date,' Tilaknagar Industries said. Tilaknagar Industries further said that the company is a company devoted to creating and marketing globally-acclaimed brands that are market leaders in their respective segments and geographies. 'All our brands stand on the strength of their intrinsic merit and unwavering consumer loyalty. As always, the company remains focused on maximising shareholder value through ethical business dealings and practices,' the company said. Through this communication, Tilaknagar Industries said it urges all stakeholders to rely solely on communications flowing directly from the company channels or published through the official stock exchange platform. Tilaknagar - Fund raising plan Tilaknagar Industries on Saturday, July 19, 2025 informed that a meeting of the board of directors of the company will be held on Wednesday, July 23, 2025, inter alia to consider the fund raising plan. The raise could be executed through multiple channels like public offer, rights issue, preferential issue, qualified institutional placement (QIP), or private placement, depending on market conditions and regulatory permissions. Favourable Bombay High Court ruling - Tilaknagar Industries The Bombay High Court had ruled in favour of Tilaknagar Industries, restraining Allied Blenders & Distillers (ABDL) from launching the 'Mansion House' and 'Savoy Club' spirit brands across India. ABDL has notified the exchange that they are exploring options to challenge the order in higher court and cannot ascertain any material financial impact at the moment. About Tilaknagar Industries Tilaknagar Industries (TI) is one of India's leading alcoholic beverage companies. TI's brand portfolio straddles multiple categories, featuring two 'Millionaire' brandy brands - Mansion House and Courrier Napoleon- along with a strong presence in whisky, rum, and gin through Mansion House Whisky, Madiraa Rum and Blue Lagoon Gin. Recently, TI has expanded into the luxury segment with Monarch Legacy Edition Brandy.
The Hindu
15-07-2025
- Business
- The Hindu
Maharashtra hotel association held one-day strike to oppose duty hike on alcohol
Maharashtra's hospitality sector, consisting of bar and restaurant-based bars, held a Statewide ''No Alcohol' strike on Monday (July 14, 2025) opposing the Chief Minister Devendra Fadnavis' government's decision to hike excise duty. The Hotel and Restaurant Association of Western India (HRAWI) led the strike to counter the Maharashtra government decision to impose a 60% hike in excise duty, a 15% increase in annual FL3 license fees for Financial Year 26, and a 10% VAT on Indian-Made Foreign Liquor (IMFL) sold at FL3 outlets. 'The one-day strike to grab the attention of the government and make them understand that the tax hike will make everything expensive, which will affect businesses. Secondly, we want to look at it from the larger perspective of tourism, especially when we have got UNESCO status for so many monuments, State should be competent enough to serve tourist from across the country and from the abroad,' said Pradeep Shetty, member of Hotel And Restaurant Association (Western India) – HRAWI. The duty hike is also seen as a way to fund welfare schemes, including the Ladki Bahin initiative. HRAWI also wrote a letter to Deputy Chief Minister Ajit Pawar, referring to the proposed hike, which may cause a sharp rise in the retail prices of alcoholic beverages. It also mentioned the consequences that may cause financial strain on hospitality businesses already struggling with 10% higher license fees, 10% VAT, and rising operational costs. 'The annual excise license fees have also been revised upward by 15%, further compounding the burden on the industry. The final price of the product is likely to become the most expensive in the country, making Maharashtra a less competitive destination for tourists, impacting tourism and hospitality,' said Jimmy Shaw, President of HRAWI, in the letter.
India Today
14-07-2025
- Business
- India Today
'No alcohol' protest at over 20,000 bars in Maharashtra today over duty hikes
Maharashtra's hospitality sector, comprising over 20,000 bar owners—including 8,000 in Mumbai and its suburbs and 11,500 hotel-based bars—has announced a statewide 'Bar Bandh' and 'No Alcohol' strike today in protest against the Devendra Fadnavis government's decision to hike excise unprecedented shutdown, supported by regional hotel associations in Palghar, Vasai, Pune, Nagpur, Aurangabad, Lonavala, Mahabaleshwar, and Nashik, marks one of the largest unified protests in Maharashtra's hospitality history. The protests will be led by the Hotel and Restaurant Association of Western India (HRAWI). advertisementLast week, the Maharashtra government decided to impose a 60% hike in excise duty, a 15% increase in annual FL3 license fees for FY26, and a 10% VAT on Indian-Made Foreign Liquor (IMFL) sold at FL3 outlets. These measures, aimed at addressing financial strain from the Ladki Bahin scheme, have sparked outrage among bar owners, who warn of an existential threat to their tax hikes have significantly increased liquor prices, hitting consumers hard. A 180-ml bottle of country liquor, previously priced at Rs 60– Rs 70, now costs Rs 80. Maharashtra-made liquor is now priced at Rs 148. Indian-made foreign liquor has risen from Rs 130 to Rs 205, and premium foreign liquor now costs Rs 360, up from Rs 210.'This triple blow will force many establishments to shut permanently. Our members are fighting for survival,' said Jimmy Shaw, President of Shaw added that the hospitality sector, which supports over 20 lakh jobs and attracts 15 crore tourists annually, is a vital pillar of Maharashtra's economy. HRAWI warns that the current tax regime could lead to widespread bar closures, over 4 lakh job losses, a shift of tourists to more affordable neighbouring states, and a rise in unregulated alcohol to the controversy, the state's plan to issue 328 new liquor sale licenses, primarily to companies rather than individual shopkeepers, has raised allegations of favouritism. Each liquor manufacturing company will reportedly receive eight licenses, and the committee overseeing foreign liquor production licenses is chaired by Deputy Chief Minister Ajit Pawar, whose son, Jay Pawar, is also a director at Capovitez, a liquor manufacturing has fueled accusations of a conflict of interest, with critics like UBT Sena MP Sanjay Raut stating, 'Maharashtra is turning into a land of drunkards,' and social activist Anjali Damania arguing, 'Ajit Pawar should not head this committee.' However, Ajit Pawar has avoided commenting on the has urged the government to rationalise the excessive tax hikes, reconsider the mandatory yearly revision of license fees, and engage in dialogue with industry bodies to create a sustainable policy framework. Both the public and industry stakeholders are now left questioning whose interests the government's liquor policies truly serve.- Ends
News18
14-07-2025
- Business
- News18
Over 20,000 Bars Across Maharashtra Suspend Service Today In Protest Against Duty Hikes
Last Updated: The one-day strike, led by the Hotel and Restaurant Association of Western India (HRAWI), drew participation from over 20,000 establishments Thousands of bar and restaurant owners across Maharashtra shut operations on Monday in protest against the state government's recent hike in liquor taxes and licensing fees. The one-day strike, led by the Hotel and Restaurant Association of Western India (HRAWI), drew participation from over 20,000 establishments, including around 8,000 in Mumbai and 11,500 hotel-based bars statewide. The protest follows the Maharashtra government's decision to raise excise duty on alcohol by 60%, increase the annual FL3 licence fee by 15% for the next financial year, and impose a 10% VAT on Indian-Made Foreign Liquor (IMFL) sold at FL3 outlets. The move, aimed at funding welfare schemes like the Ladki Bahin initiative, has sparked sharp opposition from the hospitality sector. 'This triple blow will force many establishments to shut permanently. Our members are fighting for survival," said HRAWI president Jimmy Shaw. Shaw noted that the sector supports more than 20 lakh jobs and draws 15 crore tourists each year. HRAWI has warned that the new tax structure could result in over 4 lakh job losses, reduced tourist footfall, and a potential rise in unregulated alcohol sales. As per revised pricing, a 180-ml bottle of country liquor now costs Rs 80, up from Rs 60–70. The bar owners have also criticised the state's plan to issue 328 new liquor sale licences. Each liquor manufacturer is expected to receive eight licences. view comments First Published: July 14, 2025, 10:57 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
New Indian Express
06-07-2025
- Business
- New Indian Express
Kerala to produce its own brandy
PALAKKAD: The Kerala government is all set to foray into an uncharted territory. For the first time, the state will produce its own brandy, building on the roaring success of its popular rum brand 'Jawan'. The brandy will be produced on the sprawling campus of the state-run Malabar Distilleries Limited in Menonpara, Palakkad, and is set to be rolled out by February 2026. 'Construction work on the Indian-Made Foreign Liquor (IMFL) manufacturing unit at Malabar Distilleries — where the brandy will be made — will begin at 11.30am on July 7. The ground-breaking ceremony will be inaugurated by Excise Minister M B Rajesh in the presence of Electricity Minister K Krishnankutty,' Harshita Attaluri, chairperson and managing director of Bevco, told TNIE. The fully automatic unit will be equipped with three-line production capacity, and authorities have set a target of 13,500 cases of liquor daily. Initially, at least 40 workers will be employed on-site on a single shift. At the unit, extra neutral alcohol will be added with certain chemicals, blended and bottled. The brandy will be brown in colour — not the now trendy white one. From blending and bottling to capping and final packaging, the entire process will be fully automated. The daily manufacturing quantity will be much higher compared to the Jawan Deluxe XXX Rum. Currently, 6,000 to 8,000 cases of rum are made daily at Travancore Sugars and Chemicals Limited plant at Pulikeezhu in Pathanamthitta — that too, completely manually. 'The state's unique alcohol culture plays a key role in the new venture. Rum may rule south Kerala, but in the north, brandy is king. This consumer insight is the driving force behind the strategic location and product decision,' sources said.
