Rajasthan excise amendment: 5% price rise, 8% volume gain, 50% bottling fee cut

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Price reactionminutes from the announcement price · days from the prior close

+0.5%Reaction day

₹935.80

prior close

₹930.90

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+2.0%-1.5% vs market

Breweries & Distilleries peers, median of 24sector+1.3%-0.8% vs sector

On the reaction day the stock moved 1.5 pts less than Nifty Microcap 250 and 0.8 pts less than its Breweries & Distilleries peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+1.0

10m

+0.8

15m

+1.3

30m

+1.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.5+2.0-1.5+1.3-0.8

Next day

-0.3+1.6-1.9-0.4+0.1

-0.6+3.5-4.1+1.6-2.2

-1.7+2.2-3.9+0.7-2.4

+2.3+6.0-3.7+2.8-0.5

+1.8+7.4-5.5+5.8-4.0

-0.1+5.5-5.6+4.2-4.3

15d

+5.7+7.1-1.5+6.5-0.8

-8.3+1.3-9.6+0.1-8.4

-13.9-8.1-5.8-9.0-4.9

+14.7+12.1+2.6+5.6+9.1

UpDownMarket · Nifty Microcap 250Sector · Breweries & Distilleries peers, median of 24Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Rajasthan Excise Policy 2025-29 has been amended effective April 1, 2026. Net selling value per unit for Globus Spirits regular brands in country liquor and Rajasthan made liquor rises 5% over FY25-26 ex-distillery price. Guaranteed volumes increase by about 8%. Retailers get more flexibility in procurement. Bottling fee on Indian Made Foreign Liquor made at Behror unit for sale outside Rajasthan, including Delhi and Uttarakhand, is cut by 50%, benefiting the luxury portfolio of Doaab, Terai Gin and Terai Vodka.

Likely market impact

Positive for margins and volumes. Lower bottling cost aids out-of-state IMFL push. Changes apply from April 1, 2026.