Globus Spirits Stock Surges 4% As It Forays Into Luxury Segment
In terms of stock performance, the Globus Spirits stock delivers nearly 50 per cent return in the year 2024 so far
Globus Spirits stock price jumped per cent to Rs 1,370 on the National Stock Exchange (NSE) in the Tuesday trading session after the firm declared its debut in the upscale whisky industry with the introduction of Doaab India Craft Whisky.
With this new line, the firm entered to target the high-end whisky market and offered a different viewpoint on the expanding market.
The Hindi term Doaab which signifies the land between two rivers, serves as the idea for the limited-edition Doaab India Craft Whisky, which reflects the confluence of numerous influences. The idea of combining many schools of thought to produce something original and inventive is embodied by the brand.
"Six Blind Men and the Elephant," the first release in this series, is a single malt matured entirely in barrels that were once used to make Bourbon.
Through a block sale on the NSE earlier this month, Motilal Oswal Mutual Fund purchased 2 lakh equity shares, or 0.69 percent of Globus Spirits' total equity.
In terms of stock performance, the Globus Spirits stock delivered nearly 50 per cent return in the year 2024 so far.
Globus Spirits manufactures, distributes, and markets bulk alcohol composed of rectified spirit and ENA as well as branded foreign liquor created in India.
The business also engages in franchisee bottling on behalf of well-known brand owners. With a total capacity of over 268 million litres annually, it has five fully integrated grain-based distilleries in Rajasthan, Haryana, West Bengal, Bihar and Jharkhand.
