Shares of alcoholic beverage makers rallied on Tuesday a day after the Delhi Government decreased the authorized age for consuming to 21 years from 25 years elevating hopes of upper demand for alcoholic drinks going forward, analysts mentioned. Shares of the nation’s largest alcoholic drinks maker United Spirits rose as a lot as 2.79 per cent to hit an intraday excessive of Rs 558, Radico Khaitan, maker of Magic Moments model of vodka, rose as a lot as 6.68 per cent to Rs 566.7, Globus Spirits rose 7 per cent, GM Breweries superior 8 per cent and United Brewries, maker of Kingfisher beer, superior 1.5 per cent.
The authorized age for consuming in Delhi has been introduced down from 25 to 21, Deputy Chief Minister Manish Sisodia knowledgeable on Monday. Announcing a brand new liquor coverage, he mentioned the Delhi authorities is anticipating a hike of not less than 20 p.c in its annual excise income with the reforms.
Mr Sisodia mentioned the Delhi authorities is not going to run liquor shops. He additionally introduced that no new liquor outlets can be opened within the nationwide capital.
“The new excise policy was approved by the Cabinet today on the basis of the recommendations of the Group of Ministers. It was decided that no new liquor shops will be opened in the national capital and the government will not run any liquor shops. At present, 60 per cent liquor shops in Delhi are run by the government,” Mr Sisodia mentioned at a press convention.
According to the brand new guidelines, the minimal permissible space for a liquor retailer needs to be 500 square-foot. The predominant gate of such shops should not face the street.
The liquor shops should be constructed consistent with the worldwide requirements. Store house owners should be certain that no public consuming takes place close to their outlets.
