Shares of Allied Blenders and Distillers Ltd (ABDL) fell 1.97% to Rs 541.05 in Monday’s session after the Supreme Court upheld a Bombay High Court order restraining the company from launching products under the Mansion House brand in India. The ruling came in favour of Tilaknagar Industries, which holds the rights to the brand.
At the time of writing, ABDL’s stock was trading lower by Rs 10.85 from its previous close of Rs 551.90. The stock hit a day’s low of Rs 540.20 and a high of Rs 556.60. With this decline, ABDL’s market capitalization stood at Rs 15,120 crore.
The legal battle has been ongoing between the two liquor makers over the Mansion House trademark. The Supreme Court’s intervention reinforces Tilaknagar’s exclusive rights and blocks Allied Blenders from marketing any product under the contested brand in India.
The stock has been volatile in recent months, with a 52-week range of Rs 279.00 to Rs 565.50. Its average traded volume stood at 3.81 lakh shares.
