Globus Spirits share price today: This stock zoomed nearly 53% in the last 5 sessions– Know the reason

Continuing its surge since quarter four results were announced, Globus Spirits shares spurted 53 per cent in the last five sessions from Rs 382 per share on June 14, 2021, to today’s day high. The stock zoomed 10 per cent to hit a new record high of Rs 584 per share on the BSE intraday trade on Friday. 

The liquor company reported a more-than-double consolidated profit at Rs 50.63 crore in the March-ended quarter of the financial year 2020-2021 amid strong revenue, as compared to Rs 19.35 crore in the same period a year ago. 

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Its gross revenue grew 66 per cent year on year at Rs 491 crore, led by growth in both the volumes and value in the consumer business segment. The share of the consumer business (value segment) grew by around 900 basis points (bps) YoY from 35 per cent in Q4FY20 to 44 per cent in Q4FY21. 

Franklin Strategic Emerging Markets Fund IV sold 1.96 million shares, representing a 6.8 per cent stake of Globus Spirits, through bulk deals on the NSE between June 14 and 17. While Old Bridge Capital Management Private Limited bought 725,701 shares via block deal on Thursday. 

At around 01: 00 pm, the stock soared eight per cent at Rs 573.55 on the BSE, as compared to a 0.62 per cent decline in the S&P BSE Sensex. On the counter, the trading volumes jumped 1.5 times with a combined 2.6 million shares changing hands on the NSE and BSE, so far. 

Globus Spirits is the largest grain-based ENA manufacturer in India with a capacity of 160 million litres. The company is a reputed IMFL (Indian-made foreign liquor) player with a presence in West Bengal, Rajasthan, Haryana, and Bihar. 

The majority of breweries and distillers’ companies have been declining during today’s trade. Besides Globus Spirits, Associated Alcohols & Breweries Ltd is the only stock grew by around three and half per cent to Rs 502.5 per share on the BSE today.