United Breweries news: Shares of United Breweries are in the focus of the market today. The stock is up by about 6 percent today. If we look at what has happened in the stock, the company has started supplying beer to TGBCL (Telangana Beverages Corporation Ltd). The company has said that talks with TGBCL have been positive. The company has been assured to resolve the pricing issue. TGBCL has assured to pay the dues within the time limit. Beer supply to TGBCL was stopped by the company from January 8. A jump in the volumes of United Breweries is possible with the commencement of supply.
This is “an interim decision taken in the interest of consumers, workers and stakeholders,” the company said in an exchange filing. “We are in talks with TGBCL, and these have been constructive talks. TGBCL has assured us of resolving our issues on pricing and outstanding payments in a time bound manner. Until we get more information, assurances, Till then we have decided to resume our supplies to TGBCL for the time being,”
Let us tell you that the company gets 15-17 percent volumes from Telangana. Now the payment of dues and price increase will be monitored. The company has suffered EBITDA loss in Telangana. The company owes Rs 700 crore to the Telangana government.
Nifty will consolidate between 22800-23200 and move upwards, no major correction is likely – Deven Choksi
Will beer be expensive in Telangana?
According to sources, the Telangana government has assured the company of increasing the prices. The government has assured to increase the prices in 30-45 days. The government will pay the dues in installments in 12-13 months.
If we look at the movement of shares of United Breweries, at around 3.15 pm this share was seen at around Rs 2060 with an increase of Rs 109.95 i.e. 5.63 percent. Today its intraday high is Rs 2,075. The stock’s daily low is Rs 1,951.55. The stock has a trading volume of 906,101 shares and a market cap of Rs 54,474 crore.
The stock has fallen by about 6 percent in 1 week and 1.75 percent in 1 month. The stock has seen a rise of 4.20 percent in 3 months. At the same time, this stock has lost 11.89 percent in 1 year. Whereas, it has seen a growth of 28.57 percent in 3 years.