The Exchange has sought clarification from Sula Vineyards Limited with respect to recent news item captioned Sula Vineyards eyes entry into premium spirits market via acquisition: Sources. The response from the Company is attached.
SULA · price
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Sula Vineyards has issued a clarification in response to a CNBC TV18 news article dated 20th August 2025 that suggested the company was looking to enter the premium spirits market through an acquisition. The company has categorically denied the report, calling it 'factually incorrect and has no basis.' It stated that no negotiations or discussions have taken place regarding any acquisition or entry into the premium spirits market. The company also noted that the recent price movement in the stock is purely market-driven, with no undisclosed material information.
Investors who may have bought the stock based on the acquisition buzz could see a short-term pullback as the speculative premium fades. However, the denial removes the potential upside from a strategic diversification move into spirits.