Shares of United Breweries Limited gained market attention today following an announcement by the Telangana Excise Department that the Price Fixation Committee had approved a 15% increase in beer prices, effective immediately, according to reports of CNBC-TV18. The hike will apply to stocks currently held in depots and in transit, which will now be sold at the revised prices.
The government order, issued yesterday evening, provides a boost to United Breweries as beer price revisions aim to support margin improvements amid rising production and distribution costs.
Government sources also confirmed to CNBC-TV18 that they have begun releasing pending dues to United Breweries. The company has already received payments amounting to ₹130 crore over the last 40 days. The remaining outstanding dues will be cleared in installments, offering further financial relief to the company.
With a market capitalization of ₹537.58 billion, United Breweries shares were trading at ₹2,032.60, down by 1.11% in today’s session.
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