Liquor shares drop on SC order to ban alcohol shops on highways
Shares of liquor companies dropped as Supreme Court moved to ban alcohol shops along national and state highways on Thursday.
The court said that the existing liquor licenses will lapse on April 1, 2017.
In early trade on Thursday beverages distilleries sector was trading down 0.89% on NSE Nifty 50 and 0.91% down on BSE Sensex.
United Spirits and United Breweries was down 1.37% and 1.01% respectively; while Empee Distilleries and Global Spirits was down 2.83% and 4.37% respectively.