Shares of breweries and liquor firms fell up to 8 per cent on Thursday after Bihar Chief Minister Nitish Kumar said the state was considering a ban on alcohol, prompting concerns that others could follow. United Spirits closed at Rs 3,211.45 on the BSE, down 4.74 per cent. Radico Khaitan went down by 6.92 per cent to close at Rs 114.25. While Pincon Spirit closed at Rs 101.75, down 2.02 per cent, Som Distilleries settled at Rs 189.30, down 0.05 per cent. Chambal Breweries was down 6.15 per cent. United Breweries closed flat at Rs 958.65. “The worry is about the possibility of other states following the Bihar way. Kerala had already put curbs on the sale of liquor,” said an analyst. Alcohol will be banned in Bihar from April 1 next year, Nitish Kumar announced fulfilling a promise he made to women before the assembly elections in the state. “I had made a promise that if my government returns to power we will impose prohibition. The government is committed to fulfill its promise,” the Chief Minister of the state said.
