/ Pioneer Distilleries Receives Subsidy Of Rs 118 Crore ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 27 June 2017

Pioneer Distilleries, a subsidiary of United Spirits Limited, received a subsidy worth Rs 118 crore from the Government of Maharashtra. The subsidy was received under Mega Subsidy Phase - II.

Post the announcement, the stock hit its 5% upper circuit of Rs 205.25 per share on the BSE during Tuesday’s trading session.

Whereas United Spirits on the NSE was trading with gains of 2.2% at Rs 2,298 per share, higher by Rs 48.30 per share.

Pioneer Distilleries Limited is engaged in the business of extra neutral alcohol (ENA) and allied products. The company offers potable alcohol and related products. The company’s product portfolio includes Rectified Spirit (RS), Special Denatured Spirit (SDS), Absolute Alcohol (Ethanol) and Carbon-di-Oxide (C02).

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