Som Distilleries and Breweries shares tank 16% amid child labour concerns, company issues clarification
₹105. It is now almost 33 percent away from its record high of ₹155.92, hit on October 5, 2023.
Meanwhile, it is still up over 24 percent from its 52-week low of ₹84.52, hit on February 14, 2024.The liquor stock has gained 27 percent in the last 1 year and has been almost flat, up just 2 percent, in 2024 YTD. The scrip fell over 9 percent in June so far after a 0.3 percent and 21 percent rise in May and April, respectively.
However, the stock was in the red in the first 3 months of the calendar year, down 4 percent in March, 1.1 percent in February and 2.6 percent in January.Post the news of the child labour issues, the Madhya Pradesh Chief Minister’s Office said on the social media platform X (formerly Twitter), “The case of child labour during a raid on a factory in Raisen district has come to my notice. This matter is very serious.
In this regard, detailed information has been obtained from the officials of Labor, Excise and Police departments and instructions have been given for appropriate action. Strictest action will be taken against the culprits.Milestone Alert!
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