The stock of the breweries and distilleries maker scaled its lifetime peak after the liquor manufacturer launched Magic Moments Dazzle Vodka and Royal Ranthambore Heritage Collection Royal Crafted Whisky in the Indian spirits market.
Shares of Radico Khaitan zoomed as much as 11 per cent to Rs 1,131.55, its new lifetime peak on Tuesday, before paring some gains to trade at Rs 1,112.45 at 10.15 am.
BSE Sensex was trading merely 22.76 or 0.04 per cent higher at 60,158.54 at the time of writing this report. The scrip had settled at Rs 1,021.90 on Monday.
In a media release, the Rampur-based company said Magic Moments Dazzle Vodka will be available in two variants- Magic Moments Dazzle Gold and Magic Moments Dazzle Vanilla.
“Royal Ranthambore is crafted from different bespoke Blended Malt Scotch from various regions of Scotland. Scotch grain is also blended to harmonise the whisky, ” the company’s release added.
Shares of Radico Khaitan have rallied about 30 per cent in October 2021 thus far. The scrip has delivered a hefty return of over 150 per cent in the year 2021.
Goldman Sachs has a target of Rs 1,144 on Radico Khaitan. “The company’s new product launches will potentially fill up a couple of product gaps and build on the brand goodwill,” said The global brokerage.
Both Magic Moments Dazzle and Royal Ranthambore will be available in select stores in Delhi, Karnataka, Uttar Pradesh, Goa, Maharashtra, Rajasthan and Haryana in the first phase of launch.
In its recent stock report, domestic brokerage firm Sharekhan initiated coverage on Radico Khaitan with a ‘buy’ rating and a target price of Rs 1,250 on the counter.
“The company will be one of the key beneficiaries of improving Indian demographics, consumer preference to premium brands and reviving liquor policies in various states,” it added.
