Punjab Excise Department allots liquor quota to Rana Sugars

Rana Sugars Ltd has announced that, 'During the current year of operation of the Distillery Unit, the Company has been allocated Country Liquor Quota of 4813707 PL by the Punjab Excise Department. The quota allotted to the Company s equivalent to about 10.70 Lacs Cases of Country liquor of 50 degree. This will be supplied before March 31, 2008 and will add revenue of about of Rs 25.00 Crores.'

Further, the Punjab Govt, has also allotted L-13 licenses in 14 Districts of the State of Punjab to the Company. The quota is to be supplied to numerous retail country liquor vends numbering about 4000 spread over entire State of Punjab. In addition to this 1401936 PL of the Country Liquor as been allocated by the Punjab Govt. to be sold in the open market. This will improve the profitability of the Company considerably.

The stock was trading at Rs.20.25, up by Rs.0.20 or 1%. The stock hit an intraday high of Rs.20.80 and low of Rs.19.90. The total traded quantity was 447017 compared to 2 week average of 741753.

Source : Equity Bulls

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