Som Distilleries shares tank 9% amid child labour row

Som Distilleries share price today NSE, Som Distilleries child labour news: Som Distilleries & Breweries shares tanked on Thursday, June 20 after the liquor maker noted in a filing dated June 19 that no action were taken by any department on the company amid child labour row. Declining for the second session straight, Som Distilleries shares fell 8.6 per cent to the day's low of Rs 105.9 on NSE in early morning deals. The counter closed at Rs 113.8, down 1.81 per cent on NSE. 

Earlier, the Madhya Pradesh government suspended the licence of Som Distilleries after child labourers were rescued from its unit. 

In another exchange filing on Monday, the Bhopal-based distiller clarified that the factory belonged to an unlisted associate firm, not the listed company. 

"We wish to clarify that 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," the filing said. 

"Also we wanted to clarify that 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 have terminated the services of the vendor through the directors of that company," it added.  

What does Som Distilleries do?

The distiller produces Hunter beer, Pentagon whiskey, and other alcoholic beverages.

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