Shares of United Spirits, an Indian alcoholic beverages company, jumped over 5 per cent on the Bombay Stock Exchange after the Supreme Court clarified that the liquor ban on highways does not extend to municipal areas.
Cheering the news, shares of the company gained as much as 5.51 per cent to hit intra-day high of Rs 2,607.90 apiece on the Bombay Stock Exchange. The stocks were currently trading at Rs 2,562.95 against previous close price of Rs 2,471.60.
In a similar fashion, shares of the company were trading 3.59 per cent higher at Rs 2,558.00 apiece on the National Stock Exchange.
Among others, Globus Spirits, GM Breweries, Pincon Spirit and Radico Khaitan were also moving higher on the local bourses.
Meanwhile, the broader benchmark BSE Sensex was trading at 31,596.46, up 28.45 points, or 0.09 per cent, at 11:55 hours.