UBL, USL shares tumble up to 3% as Supreme Court upholds alcohol ban in Kerala
Shares of brewing firms such as United Breweries and United Spirits slipped up to 3 per cent after Supreme Court upheld Kerala High Court's liquor ban order.
- Dec 29, 2015,
- Updated Dec 29, 2015 4:21 PM IST
Shares of brewing firms such as United Breweries and United Spirits slipped up to 3 per cent after Supreme Court upheld Kerala High Court's liquor ban order.
The stock of United Breweries ended flat after falling 3 per cent intraday, while United Spirits tumbled 2.69 per cent on the Bombay Stock Exchange (BSE).
The Kerala government introduced a policy last year to become an alcohol-free state within 10 years. Under the policy, the sale of alcohol was permitted only in 5-star hotels.
The order 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.
Shares of brewing firms such as United Breweries and United Spirits slipped up to 3 per cent after Supreme Court upheld Kerala High Court's liquor ban order.
The stock of United Breweries ended flat after falling 3 per cent intraday, while United Spirits tumbled 2.69 per cent on the Bombay Stock Exchange (BSE).
The Kerala government introduced a policy last year to become an alcohol-free state within 10 years. Under the policy, the sale of alcohol was permitted only in 5-star hotels.
The order 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.