Latest news with #TilaknagarIndustries
Economic Times
2 hours ago
- Business
- Economic Times
How Tilaknagar industries' name came up in Andhra liquor scam
Tilaknagar Industries, a notable player in India's alcohol industry, found itself in the limelight for all the wrong reasons after the Andhra Pradesh filed its chargesheet in the keenly-watched liquor scam in the state. Tilaknagar was named in the case along with a number of other industry peers, all of which have been implicated in alleged cases of various sharp practices and kickbacks related to liquor trade. ADVERTISEMENT The Andhra case is reminiscent of the Delhi liquor scam case that played a major role in bringing the Kejriwal government down. The chargesheet on the alleged Rs 3,500 crore scam mentions former chief minister YS Jagan Mohan Reddy as one of the recipients of the kickbacks. However, the 305-page document didn't directly name him as an accused. The Special Investigation Team (SIT) probing the alleged liquor scam has arrested YSRCP Lok Sabha member PV Midhun Reddy on July 21, after grilling him for police alleged that the key accused brought out the new liquor policy during the previous YSRCP regime with an "underlying intent of having full control over the supply and sale of liquor". This helped them achieve their goal of earning commissions/kickbacks between 2019 till 2024, they to the chargesheet, Tilaknagar Industries paid an estimated Rs 218 crore to a syndicate as kickbacks "based on the quantity and price pushed through Andhra Pradesh State Beverages Corporation Limited (APSBCL)". These kickbacks were allegedly paid in return for an income of about Rs 1,472 crore that the company earned from APSBCL, it said. ADVERTISEMENT The Andhra Police chargesheet has sought to link a number of "suspicious" transactions to the company. The money, which the chargesheet says was received from APSBCL, was alledgedly converted to "untraceable liquid cash" through four jewellery investigators have accused Tilaknagar Industries of misusing its position and influence in the Andhra state alcohol body in order to push its business interests, eventually securing a major sales boost. ADVERTISEMENT In order to retain this competitive edge, the chargesheet says, Tilaknagar routed some part of its legitimate revenue to some jewellery merchants. The gold received in return for these funds was systematically passed on to the syndicate."This gave the transactions a veneer of legal GST-compliant business expense, while effectively converting white banked money into untraceable black assets," the chargesheet adds. ADVERTISEMENT Shares of Tilaknagar Industries, the maker of the Mansion House brandy and whisky and Blue Lagoon gin, defied the negative publicity to register sharp spikes on July 21 and 22. At around 1 pm on July 22, the stock was trading at over Rs 454, a 7+ per cent jump over the previous day. (You can now subscribe to our Economic Times WhatsApp channel)
Business Upturn
3 hours ago
- Business
- Business Upturn
Why are Tilaknagar Industries shares up over 6% today? Explained
By Aman Shukla Published on July 22, 2025, 11:17 IST Shares of Tilaknagar Industries rose 6% after the company issued a clarification on media reports alleging its involvement in a liquor kickback scheme in Andhra Pradesh. According to NDTV Profit and Informist, the Andhra Pradesh Police has reportedly named Tilaknagar Industries in a chargesheet, alleging the company paid approximately ₹218 crore in kickbacks to a liquor syndicate in exchange for securing orders worth ₹1,472 crore between 2019 and 2024. In response, the company stated that it has not received any communication or notice from any regulatory or enforcement authority regarding the matter. It also emphasized its commitment to ethical business practices and its focus on building strong, trusted brands. Tilaknagar Industries shares opened at ₹425.00 and moved between a high of ₹449.55 and a low of ₹424.80 during the trading session. The stock stayed close to its 52-week high of ₹457.00, while the 52-week low remains at ₹199.53. The stock has seen strong movement in recent sessions, staying in focus among investors. As of 11:16 AM, the shares were trading 6.92% higher at Rs 447.80. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
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Business Standard
5 hours 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.
Time of India
20 hours ago
- Business
- Time of India
Tilaknagar Industries, Bira maker named in Andhra Pradesh liquor scam
Synopsis Tilaknagar Industries and Bira maker B9 Beverages have been named in a chargesheet by Andhra Pradesh Police for alleged kickbacks and irregularities in liquor trade. Tilaknagar reportedly earned ₹1,472 crore from APSBCL, with ₹218 crore allegedly routed as kickbacks via gold transactions. B9 Beverages earned ₹360 crore, with ₹43 crore allegedly funneled back through fake vendor payments. Both firms deny receiving official communication so far.
Business Upturn
a day ago
- Business
- Business Upturn
Tilaknagar Industries shares fall 5% from day's high after Andhra liquor scam allegations surface
By Aditya Bhagchandani Published on July 21, 2025, 14:47 IST Shares of Tilaknagar Industries Ltd rose as much as 5.46% intraday to ₹443.90, before paring gains and trading nearly 6% below the day's high after reports emerged linking the company to an alleged liquor scam in Andhra Pradesh. The stock closed at ₹418.40, compared to the previous close of ₹396.75, with a market capitalization of approximately ₹81,400 crore. According to NDTV Profit and Informist, the Andhra Pradesh Police has named Tilaknagar Industries in an alleged liquor kickback scheme. Authorities claim the company allegedly paid about ₹218 crore (₹2.18 billion) in kickbacks to an Andhra liquor syndicate in exchange for lucrative orders. Between 2019 and 2024, the company reportedly received orders worth ₹1,472 crore (₹14.72 billion) in the state, the police report noted. These revelations have raised concerns among investors despite the stock's initial rally. On Monday, the stock saw high volatility: it opened strong, touching a high of ₹443.90 in the morning session, but fell sharply after the news broke, reflecting investor unease over potential legal and reputational risks. Company response to the allegations has not yet been made public at the time of writing. Market participants are closely watching for further clarification from Tilaknagar Industries and regulatory authorities. Disclaimer: This article is for informational purposes only and does not constitute financial advice. Stock market investments are subject to market risks. Please consult your financial advisor before making investment decisions. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
