ramco system: market movers: Telangana wine makers push prices; Ramco

NEW DELHI: Wine makers traded shares on Thursday after the Telangana government raised liquor prices by 20 to 25 per cent to boost its revenue.

According to local media reports, the authorities have increased the price of 1000 ml of liquor by Rs 120. The price of a quarter bottle has been increased by Rs. For all types of beer, a minimum of Rs 10 per bottle has been increased, Telangana reported today.

Traders and companies fear that sales will be lower due to higher prices.

After the action, the stock of alcohol producers has been tanked. 796.35, down about 5 per cent. 1,458, down about 3 per cent. Also decreased by about one percent.

Kedia stock loss report held

The company reported a loss of Rs 26.45 crore as compared to a profit of Rs 7.45 crore in the same quarter last year. The company also reported losses in the December quarter.

The company’s revenue has also declined in the country.

The company said its order bookings stood at $ 64.78 million. It has signed a মিল 13 million-plus deal on FY22. The company continues to be debt-free, it said in a release.

However, investors were not confused. The stock has fallen more than 6 percent since the earnings were announced.

The stock is held by Vijay Kedia, a value investor in his portfolio.

Cementing his position!

JK Lakshmi Cement said its profit increased by Rs 161.26 crore to Rs 138.27 crore in the same quarter as compared to January-March 2022. Its revenue also increased by 13 percent.

“Despite the relentless rise in petrochemical and diesel prices which are at all-time highs, JK Lakshmi Cement can achieve healthy profits through efficient performance, energy consumption, better blending of products and continuous improvement in high volume,” the company said.

During the quarter, JKLC launched the 10 MW Waste Heat Recovery (WHR) project at its Sirohi plant, bringing the company’s total WHR capacity to 33 MW.

Investors were delighted with the announcement as the stock moved above 7 percent at the end of the day.

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