Som Distilleries & Breweries Ltd Share Price – NSE  /  BSE

Alcoholic Beverages, Small Cap

Kirloskar Pneumatic Company Ltd, Chemplast Sanmar Ltd, KNR Constructions Ltd and Gujarat Ambuja Exports Ltd are among the other losers in the BSE's 'A' group today, 18 June 2024.

Som Distilleries & Breweries Ltd crashed 6.41% to Rs 116.75 at 14:46 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 14.96 lakh shares were traded on the counter so far as against the average daily volumes of 1.62 lakh shares in the past one month.

Kirloskar Pneumatic Company Ltd tumbled 5.33% to Rs 1310.65. The stock was the second biggest loser in 'A' group.On the BSE, 29328 shares were traded on the counter so far as against the average daily volumes of 19601 shares in the past one month.

Chemplast Sanmar Ltd lost 4.62% to Rs 593.1. The stock was the third biggest loser in 'A' group.On the BSE, 57769 shares were traded on the counter so far as against the average daily volumes of 40561 shares in the past one month.

KNR Constructions Ltd plummeted 4.43% to Rs 371.05. The stock was the fourth biggest loser in 'A' group.On the BSE, 1.27 lakh shares were traded on the counter so far as against the average daily volumes of 4.33 lakh shares in the past one month.

Gujarat Ambuja Exports Ltd corrected 4.31% to Rs 142. The stock was the fifth biggest loser in 'A' group.On the BSE, 3.16 lakh shares were traded on the counter so far as against the average daily volumes of 55254 shares in the past one month.

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The NCPCR chairperson has reportedly revealed that over 50 children, including 20 young girls, suffered skin burns from chemical exposure. The commission has filed a case against the firm under juvenile justice and bonded labour laws, the reports added.

Issuing a clarification on these media reports, Som Distilleries said, “These concerns are not related to Som Distilleries and Breweries Limited but relate to our associate Private Limited company which deals in country liquor primarily, and not the listed company as reported.”

It further said that the labour for the associate company is supplied by contractors. It may be the fault of the contractors who may not have got proper age verification done of the workers being allowed to work at that company. That company has extended full cooperation to the authorities regarding the issue and has terminated the services of the vendor through the directors of that company.

“We want to assure you that all the plants of our company are fully compliant with all applicable laws and have all the necessary permissions,” Som Distilleries said in a statement.

Som Distilleries and Breweries is primarily engaged in brewing, fermentation, bottling, canning and blending of beer and Indian Made Foreign Liquor (IMFL). It also supplies draught beer from its plants.

The company’s consolidated net profit jumped 17.97% to Rs 18.84 crore in Q4 FY24 as compared with Rs 15.97 crore in Q4 FY23. Revenue from operations (excluding excise duty) jumped 43.27% to Rs 381.59 crore in Q4 FY24 as compared with Rs 266.34 crore posted in same quarter last year.

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The headline equity benchmarks continued to trade in a narrow range with minor gains in afternoon trade. The Nifty hovered above the 23,500 level. Consumer durables, realty and private bank stocks advanced while media, pharma and oil & gas shares declined.

At 13:30 IST, the barometer index, the S&P BSE Sensex was up 232.37 points or 0.30% to 77,222.49. The Nifty 50 index rose 71.45 points or 0.30% to 23,536.30.

The Sensex and Nifty clocked an all-time high of 77,366.77 and 23,579.05 respectively in morning trade.

In the broader market, the S&P BSE Mid-Cap index rose 0.40% and the S&P BSE Small-Cap index added 0.84%.

The S&P BSE Mid-Cap and S&P BSE Small-Cap index hit an all-time high at 46,278.53 and 51,758.97 respectively.

The market breadth was positive. On the BSE, 2,115 shares rose and 1,808 shares fell. A total of 168 shares were unchanged.

Economy:

India’s forex reserves rose 4.307 billion US Dollars to hit a new all-time high of 655.817 billion Dollars for the week ended June 7. The reserves had jumped 4.837 billion dollars to 651.51 billion dollars in the previous week. For the latest week, foreign currency assets, a major component of the reserves, increased by 3.773 billion dollars to 576.337 billion dollars.

Gainers & Losers:

Power Grid Corporation of India (up 3.14%), Wipro (up 2.96%), Shriram Finance (up 2.50%), Titan Company (up 2.01%) and Mahindra and Mahindra (up 1.60%) were major Nifty gainers.

Maruti Suzuki India (down 1.80%), UltraTech Cement (down 1.47%), Dr Reddy's Laboratories (down 1.42%), Divi's Laboratories (down 1%) and Tata Steel (down 0.81%) were major Nifty losers.

Stocks in Spotlight:

Som Distilleries & Breweries tumbled 5.93%. The company terminated the contract with vendor services of its associated company over allegations of child labour. Police has launched an investigation after the Government's child protection agency found out children working at its liquor factory in Madhya Pradesh.

One 97 Communication (Payim) slipped 1.87%. The company is in talks with Zomato to sell its movie and ticketing business. The fintech firm is going to focus on its core business: payment and financial services along with goods commerce.

Hindustan Aeronautics (HAL) jumped 6.09% after the company announced that a request for proposal (RFP) has been issued by the Ministry of Defence for procurement of 156 light combat helicopters (LCH).

Rail Vikas Nigam (RVNL) advanced 2.34% after the company has emerged as lowest bidder (L-1) from East Coast Railway for installing automatic block signaling system in Odisha.

Larsen and Toubro rose 0.16%. The EPC major announced that its construction arm has secured 'significant’ orders for its Buildings & Factories (B&F) vertical in India.

Global Markets:

European and Asian stocks traded advanced on Tuesday, following gains on Wall Street the previous day. This positive sentiment was buoyed by easing concerns about political instability in Europe. Investors also awaited comments from several Federal Reserve officials scheduled to speak later.

The Reserve Bank of Australia (RBA) held its benchmark interest rate at 4.35% for its fifth straight meeting. Further, the RBA also noted that the economic outlook remained “uncertain,” with recent data signaling that achieving the inflation target was unlikely to be smooth.

U.S. stocks surged to fresh records on Monday, fueled by continued gains in technology companies. The S&P 500 climbed 0.8%, surpassing its all-time high from Thursday. The Dow Jones Industrial Average also rose 0.5%, while the Nasdaq Composite extended its own record with a 1% gain.

The U.S. stock market will be closed tomorrow, Wednesday, June 19th, for Juneteenth.

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The company further stated that Telangana, recognized as one of the largest markets for beer consumption in India, presents a significant opportunity for expansion and increased sales.

The approval marks a pivotal step for us as we seek to broaden our market reach and cater to the robust demand for beer in the region.

With this new permission, we anticipate a substantial increase in sales volume in the short to medium term, bolstering the company’s growth trajectory and market presence,” Som Distilleries said in a statement.

Som Distilleries and Breweries is primarily engaged in brewing, fermentation, bottling, canning and blending of beer and Indian Made Foreign Liquor (IMFL). It also supplies draught beer from its plants.

The company’s consolidated net profit jumped 17.97% to Rs 18.84 crore in Q4 FY24 as compared with Rs 15.97 crore in Q4 FY23. Revenue from operations (excluding excise duty) jumped 43.27% to Rs 381.59 crore in Q4 FY24 as compared with Rs 266.34 crore posted in same quarter last year.

The scrip tumbled 5.10% to currently trade at Rs 134.10 on the BSE.

Som Distilleries recently split its shares in a 5:2 ratio, reducing the face value from Rs 5 to Rs 2 per share. The record date for determining shareholders eligible for the split was May 24, 2024. This is the company's second stock split since the Covid era, the first being a 1:2 split in October 2020, which reduced the face value from Rs 10 to Rs 5 per share.

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