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Breweries stock slip Amid Covid-19 Fears

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Shares of  GM Breweries and other alcoholic beverages stocks declined in today‚Äôs trading session after the state governments order for complete shut-down of malls, restaurants, bars and night clubs till this month-end, in the light of Covid-19 outbreak.

Shares of GM Breweries,  Globus Spirits, Varun Beverages, Radico Khaitan, Pioneer Distilleries, fell in the range of 6 and 2 percent each on the NSE. However, United spirits rose by 0.81 percent during mid-session.

Amid worries on the spread of Covid-19 due to mass gathering, states like Chennai, Maharashtra, Karnataka, and Delhi have ordered the shutdown of malls, bars, and restaurants as preventative measures till March 31 in selective cities.