Liquor stocks sparkle after Kerala relaxes liquor ban

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Keeping its election promise, the Pinarayi Vijayan government of Kerala has decided to resume giving the FL-3 licence to three and four-star hotels in Kerala from July 1, 2017. This will enable small and budget hotels to serve Indian made foreign liquor (IMFL).

Currently, only five-star bars in the state have FL-3 licence, while others have FL-11 licence which allows them to serve only beer and wine.

Liquor stocks including Pioneer Distilleries was up by 20% and got locked in it upper circuit at Rs 219.95 per share, Tilaknagar Industries was trading higher by 15.14% at Rs 12.55 per share in the closing hour, Ravi Kumar Distilleries Limited was up by close to 10% at Rs 10.75 per share, while Empee Distilleries is up by 6.22% at Rs 47.8 per share.

All liquor stocks have attracted huge trading volumes during the closing hours of trade on Friday.

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