India's Som Distilleries falls after authorities say will impound plant

Som Distilleries and Breweries

20/06/2024 05:43

** Shares of liquor firm Som Distilleries Breweries Ltd
 SDB.NS  fall as much as 8.6% to 105.90 rupees
    ** At current levels, SBD down 8% since allegations of
contractor employing children were first reported on Monday   
    ** Indian authorities said on Wednesday they would impound
distillery belonging to associate co, suspend manufacturing
license of plant in Madhya Pradhesh state after agency found
children working at site illegally
    ** Som on Wednesday said no action taken by any government
department on co
    ** Rivals United Spirits  UNSP.NS  down 0.5% on the day,
Piccadily Agro  PICA.BO  and Radico Khaitan  RADC.NS  up 0.4%
each    
    ** Som's sessions' losses trim YTD gains to 0.8%

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))