Shares of Radico Khaitan, which owns popular vodka Magic Moments and other liquor brands, rallied as much as 6 percent to hit a record high on Thursday, taking its total gains in past four sessions to nearly 20 percent.
Radico Khaitan, one of India's oldest and largest spirits companies, manufactures industrial alcohol, Indian Made Foreign Liquor, country liquor and fertilisers.
The maker of Jaisalmer Indian Craft Gin, on Monday announced the launch of its super-premium product portfolio, "Happiness in a Bottle: A Happily Crafted Gin”. The portfolio offers 15 flavoured gin spirits, including Juniper, Angelica, and Coriander.
The company said that all variants come with Ashwagandha, a widely-used herb in traditional medicines known for its vitality and mood-enhancing properties.
The products would be available in select retail outlets in Rajasthan, Delhi, Haryana, Goa, and Karnataka in the first phase of the launch.
Brokerage firm Elara Capital in May had said that the liquor price hike by the Telangana government can prove to be an earnings booster for Radico Khaitan and other alcohol beverage companies.
Telangana contributes approximately 12 percent to Indian-made foreign liquor (IMFL) volumes in the Indian alcohol market.
For Radico, the price increase benefit could be higher at around 11-12 percent due to higher salience of over Rs 1,000 EDP (ex-distillery price) sales, Elara Capital said.
Shares of Radico Khaitan ended 1.2 percent higher at Rs 1,374.70.
