GM Breweries Jumps Over 17% After Maharashtra Spares Beer & Wine From Excise Hike
By Ankur Chandra | Updated at: Jun 11, 2025 01:38 PM IST
Mumbai, June 11 (11:20 AM IST): Shares of GM Breweries Ltd (NSE: GMBREW) surged as much as 17.65% to ₹843.70 in early trade, and were trading at ₹842.90, up by 17.53% or ₹125.25 as of 11:20 AM during the market session on Wednesday, June 11. The significant surge in the share price follows the Maharashtra government’s decision to exempt beer and wine from its recently approved excise duty hike.
The shares of GM Breweries are witnessing strong buying momentum, with demand far exceeding supply in the order book.
| Buy Quantity | Sell Quantity |
|---|---|
| 3,45,617 shares | 1,47,044 shares |
The stock remains active and among the top gainers for the day on the National Stock Exchange.
Market Snapshot (As of 11:20 AM IST)
| Metric | Value |
|---|---|
| LTP | ₹842.90 |
| Change (%) | +125.25 (17.53%) |
| Previous Close | ₹717.15 |
| Day’s Range | ₹725.00 – ₹848.40 |
| VWAP | ₹823.26 |
| Traded Volume (Shares) | 17.55 lakh |
| Traded Value | ₹144.47 Cr |
| Total Market Cap | ₹1,919.14 Cr |
| P/E Ratio (Adjusted) | 12.70 |
| 52-Week High | ₹1,049.00 (17-Sep-2024) |
| 52-Week Low | ₹579.95 (03-Mar-2025) |
Policy Development Sparks Rally
On Monday, the Maharashtra cabinet, led by Chief Minister Devendra Fadnavis, approved a significant increase in excise duty, aiming to generate an additional ₹14,000 crore in annual revenue. This hike, however, explicitly excluded beer and wine.
This strategic policy decision immediately provided a notable benefit to companies operating in the beer and wine segments, leading to a surge in their stock prices. While other alcoholic beverages are expected to see price increases across various retail and hospitality outlets, the exclusion of beer and wine from the duty hike is anticipated to preserve their demand elasticity and safeguard operating margins for producers like GM Breweries.
Technical Indicators
- Impact Cost: 0.14
- Daily Volatility: 2.54
- Annualised Volatility: 48.53
- Applicable Margin Rate: 19.98%
- Free Float Market Cap: ₹470.80 Cr
About GM Breweries Ltd
Incorporated in 1981 and listed since August 23, 1995, GM Breweries Ltd operates in the Breweries & Distilleries sector. The company manufactures Indian Made Foreign Liquor (IMFL) and country liquor, with a strong distribution footprint in Maharashtra. Its fortunes are closely tied to state-level regulatory actions, particularly in excise and consumption patterns.
The exemption granted by the state government positions GM Breweries favorably for near-term growth, given its concentrated exposure to beer and country liquor markets.
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