Som Distilleries commences sales operations in WB, stock up by 5 per cent

Liquor manufacturer and distributor Som Distilleries recorded a stark rise of over 5 per cent on the bourses in Friday’s intraday trade as the company began its operations in West Bengal. According to its press release, the company began its sales operations in the state on Friday.
 
Recently, the company also began commercial production at its subsidiary company Woodpecker Distilleries and Breweries in Hassan, Karnataka. The company has been aggressively expanding and had commenced its Maharashtra operations in February this year.  
 
The company recorded a net profit of Rs. 6.33 crore for the fourth quarter of fiscal year 2018 as against Rs. 2.55 crore for the same quarter in the previous fiscal year. 
 
Following the development, the share price of Som Distilleries surged to hit its intraday high of Rs. 267.95 per share on Friday. The stock hit an intraday low of Rs. 258.35 per share. At 12:19 hours IST, the stock was trading at Rs. 263.90 per share, up by 3.73 per cent on BSE.  
 
Som Distilleries hit an intraday low of Rs. 258.35 per share. The stock had touched its 52-week high of Rs. 322.65 per share on May 8, 2018 and its 52-week low of Rs. 125.10 per share on June 28, 2017 on BSE, respectively.