Introduction:
Leading ethanol producer has welcomed the government’s decision to reduce rice prices for distilleries, from ₹28 per kg to ₹22.50 per kg. The price cut, effective January 17, 2025, aims to reduce production costs and boost industry profitability.
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Share price movement of Globus Spirits:
On January 20, 2025, Globus Spirits Ltd opened at ₹899.00, up 13.04% from its previous close of ₹795.05. The stock reached a high of ₹930.90 (16.99%) and a low of ₹871.55. By 11:37 AM, it traded at ₹910.45, a 14.51% increase, with a market cap of ₹2,630.14 crore.
Globus Spirits Announces Rice Price Reduction:
Globus Spirits Ltd. has announced a reduction in the price of rice supplied to ethanol distilleries. The Ministry of Consumer Affairs, Food & Public Distribution notified the price cut from ₹28 per kg to ₹22.50 per kg, effective January 17, 2025.
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Globus Spirits Ltd. acknowledged the notice from the Ministry and emphasized the positive impact on their operations. The reduction in rice prices is seen as a strategic move to support the growth of the ethanol sector.
Stock performance of Globus Spirits for Period of 1 week, 6 months and 1 year:
Globally, Globus Spirits Ltd. has seen a 4.41% return over the past week, reflecting positive momentum. However, the stock has declined by 12.1% over the last six months and 3.60% over the past year, indicating overall downward performance.
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Shareholding pattern of Globus Spirits:
| All values in % | Dec 2024 | Sep 2024 | Jun 2024 |
| Promoter | 50.90% | 50.90% | 50.90% |
| FII | 6% | 5.60% | 4.80% |
| DII | 5.30% | 6.00% | 1% |
| Public | 38% | 38% | 43.20% |
About Globus Spirits:
Globus Spirits Limited (NSE: GLOBUSSPR), established in 1992, manufactures and sells IMIL, IMFL, bulk alcohol, hand sanitizer, and franchise bottling. The company leads in India’s grain distillery and branded DDGS market, with a diverse business model.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
