Market Veteran Madhusudhan Kela is bullish on liquor stocks, even as he perceives Budget 2025 has given a boost to various sector. The Managing Director of MK Ventures expects more co-operation from the state governments.
"I am positive, the budget does give a push. Our conviction on liquor stocks is from medium to long term. We believe that state governments are going to be more progressive. I expect organised liquor companies will gain more market share," Kela told NDTV Profit.
Along with this sector, with more disposable income in the hands of the people, the primary focus of the budget was on growth, according to the market veteran.
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Liquor Stocks Over Last Three Months
Liquor stocks are in the green, with GM Breweries shares leading gains, rising over 6%. Sula Vineyards stock also traded nearly 4% higher today, while Allied Blenders traded over 2% higher as well.
There is recovery in the three-month performance of GM Breweries, specifically after Jan. 25. There had been a steep decline in prices in the first half of January 2025, as the prices had slipped to the lowest on Jan. 25 before it saw an uptick.
Sula Vineyards also saw a pick-up in prices during the last week of January 2025. There was a downward trend in prices that was present during the initial week of January before the prices started seeing an upward trend.
While GM Breweries and Sula Vineyards saw major movements, United Breweries Ltd., saw relatively stable movements since the start of the year. There had been an uptick in price after the first half of January 2025, as the stock held above its previous lows.
Talking about the budget as a whole, Kela highlighted that the primary focus has been on growth and that the consumption is set to see uptick, given the higher disposable income with the public.
"There is lot of details and the government intent is on ease of doing business. Clearly the focus is on growth. Apart from broad numbers, it's the fine print that gives me confidence," said Kela.
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