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.
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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.
Premium wines priced upwards of ₹850 are known to be growing anywhere between 45% to 130%.