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BUZZ-Indian liquor firms' stocks fall; top court reaffirms ban on outlets near highways
April 3, 2017 / 6:30 AM / 8 months ago

BUZZ-Indian liquor firms' stocks fall; top court reaffirms ban on outlets near highways

** Shares of Indian liquor companies such as United Spirits Ltd, Pincon Spirit Ltd and Globus Spirit Ltd fall 5.10 pct - 7.90 pct

** India's Supreme Court reaffirms decision to ban liquor outlets within 500 metres of national and state highways from April 1, The Times of India reported (bit.ly/2orNBtx)

** The order was first issued on Dec 15, 2016

** Macquarie Research said in a note that it expects United Spirit’s revenue from affected outlets to fall by 35-40 pct

** Around 720,000 United Spirits shares change hands, more than twice the 30-day average (arnab.paul@thomsonreuters.com@reuters.net)

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