Globus Spirits share price gains over 8 per cent on June 18

In the morning session of June 18th, Globus Spirits share price surged up around 8 per cent and touched a new 52-week high of Rs 584.40.

The stock that has gained over 36 per cent in the past three days was trading at Rs 578, up Rs 46.70 or 8.79 per cent around 0940 hours.

The stock has been in attention when the company’s net profit soared up 161 per cent in Rs 50.64 crore in the quarter that concluded in March 2021 from Rs 19.40 crore during the previous year quarter.

The company’s sale increased 31.37 per cent to Rs 356.68 crore from Rs 271.51 crore in the same quarter of the past year.

For the entire year, the net profit of the company was up 182 per cent to Rs 140.84 crore against Rs 49.90 crore in the past year.

As per the Bulk deal on NSE,  portfolio management firm Old Bridge Capital acquired 2.51 per cent stake in Globus spirits. Furthermore, the bulk deals data states that since May 2021 Old Bridge Capital Management was the first major and strong buyer in Globus Spiritus by obtaining 7,25,701 equity shares in the company at Rs 495.02 per share.

Along with a strength of 160 million liters, Globus Spirits is India’s one of the largest grain based ENA producer. The company serves in the states of Rajasthan, Haryana, Bihar and West Bengal .

According to experts at ICICI direct, Globus Spirits has benefitted from the changing dynamics in the booze industry.

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