
Sula Vineyards shares rally 12%; here’s why
Sula’s own brands sales volumes crossed 1 million cases in FY23, with annual revenue rising 26% YoY to ₹482.5 crore.
Sula’s own brands sales volumes crossed 1 million cases in FY23, with annual revenue rising 26% YoY to ₹482.5 crore.
CLSA has initiated its coverage on Sula Vineyards with a target price of ₹475, a potential upside of 39% from Tuesday’s closing price.
The share price of the company touched a fresh high of ₹432 in intraday trade on the BSE on the back of the continued rally in the last seven sessions.
Shares of Droneacharya Aerial listed at ₹102 per share, a premium of 89% over its issue price of ₹54 apiece on the BSE.
Landmark Cars shares listed 6.9% lower at ₹471 on the NSE, while Aban Holdings opened a tad higher at ₹273 against the issue price of ₹270.
Shares of Sula Vineyards declined as much as 5% to hit a low of ₹339 after making flat debut at ₹358 on the BSE, against the issue price of Rs ₹357 apiece.
Sula Vineyards, Aban Holdings, and Landmark Cars will launch their IPOs this week. Besides, Uniparts India will make its market debut on December 12.