Som Distilleries & Breweries consolidated net profit rises 20.43% in the June 2024 quarter

Som Distilleries and Breweries Limited saw its shares rise over 3% yesterday following news that the Madhya Pradesh High Court had suspended the suspension of its license on June 28. The company subsequently announced that normal operations at its plant have resumed.

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Som Distilleries' MD On License Suspension, New Single Malt Whiskeys & Worldwide Competition

The normal operations at the plant commenced on Friday after the decision by the Madhya Pradesh High Court, it said.

Som Distilleries Licence Suspension Stayed By Madhya Pradesh High Court

The stock fell as much as 8.62% during the day to Rs 105.90 apiece on the NSE.

Som Distilleries Drops To Two-Month Low After Crackdown On Sister Company

Here are the stocks to watch before going into trade today.

Stocks To Watch: Som Distilleries, Indian Oil, Sun Pharma, PNB Housing Finance

Nearly 60 children were rescued from a liquor factory in the state’s Raisen district last week.

Madhya Pradesh Government Suspends Som Distilleries’ License Over Child Labour Concerns

Kirloskar Pneumatic Company Ltd, Chemplast Sanmar Ltd, KNR Constructions Ltd and Gujarat Ambuja Exports Ltd are among the other losers in the BSE’s ‘A’ group today, 18 June 2024.

Som Distilleries & Breweries Ltd leads losers in ‘A’ group

Som Distilleries child labour: Labour at the associate company is supplied by contractors. It may be the fault of the contractor, Som Distilleries has clarified

Som Distilleries falls 16 on likely child labour at Madhya Pradesh factory

This comes after a case was filed against one of the company’s contractor for employing over 50 children in it’s factory in Madhya Pradesh’s Raisen district.

Som Distilleries Shares Plunge 16% Amid Child Labour Probe

Securities in F&O ban: Balrampur Chini Mills, GMR Infra, Hindustan Copper, India Cements, SAIL, SUN TV network.

Stock alert: Ixigo, Westlife Foodworld, Bharti Airtel, Som Distilleries, Paytm

Som Distilleries highlighted that the associate company had engaged contractors who failed to verify ages adequately.

Som Distilleries Blames Contractors For Child Labour, Terminates Vendor’s Services; Police Probe Launched

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is underpriced and is not in the overbought zone

Current price is less than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Som Distilleries & Breweries Limited is engaged in the manufacturing and sale of beer, and blending and bottling of Indian made foreign liquor (IMFL).