Dolly Khanna picks stake in this liquor maker, multibagger stock hits record high
The rally in the multibagger stock can also be attributed to the announcement by Som Distilleries that its subsidiary Woodpecker Distilleries and Breweries has started commercial production of enhanced Beer capacity in Karnataka
This multibagger liquor stock touched an all-time high of Rs 172.75 per share on Wednesday after surging more than eight per cent to eventually close at Rs 169.95 per share on the BSE.
The Street queued to buy shares of Som Distilleries and Breweries Limited after ace investor Dolly Khanna bought about 9,53,603 equity shares, which translates to nearly 1.29 per cent stake in the alcohol manufacturer, as per the March shareholding pattern of the company on the BSE.
According to SEBI norms, all the listed companies have an obligation to disclose the names of their key shareholders owning a per cent or more on a quarterly basis.
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Som Distilleries and Breweries is into the production of Beer, Whisky, Vodka, Rum, Gin, Ready to drink beverages as well as Country Liquor. The company has brands such as Hunter, Woodpecker, Black Fort, and among others in its alcohol categories.
The renowned investor Khanna, whose portfolio is monitored by many investors, publicly holds 15 stocks with a net worth of over Rs 247.2 crore as of April 19, 2023.
Her portfolio typically leans towards more traditional stocks in textile and chemicals, as per the stock analysis website trnedlyne.com.
Som Distilleries shares in the last one year has given a multibagger returns to its investors as the stock jumped more than 2.5 times or 166 per cent during the said period as compared to over four per cent rise in the Nifty50 index.
Year to date, the counter has jumped almost 45 per cent against more than a three per cent fall in the benchmark index.
The rally in the stock can also be attributed to the announcement by Som Distilleries that its subsidiary Woodpecker Distilleries and Breweries has started commercial production of enhanced Beer capacity in Hassan district of Karnataka, the company said in an exchange filing on Tuesday.
Besides, the counter has also breached the Zee Business research analyst’s target of Rs 165 per share, which was advised to ‘buy’ at the start of today’s session for a stop loss of Rs 156 apiece.
(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)