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Stocks of major spirits companies fell today after the Supreme Court upheld Kerala government’s policy to allow only bars at 5-star hotels to operate.
United Breweries Ltd ended down 0.71 per cent or Rs 6.75 at Rs 940.60 on the BSE. There was a spurt in volume by over 4.13 times.
United Spirits Ltd lost 2.69 per cent or Rs 82.40 to end at Rs 2,982.45. Trading volumes in the counter saw a spurt of over 2.25 times.
Radico Khaitan shares ended down 0.75 per cent or Rs 0.85 at Rs 111.85.
Kerala introduced a policy last year to become alcohol-free within 10 years.
According to the rule, sale of alcohol is permitted only in 5-star hotels. The policy was challenged by small bar owners who lost their case in the Kerala High Court.
Kerala has the country's highest alcohol consumption per capita.
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