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<div type="image" title="Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment" msid="115018213" hostid="261" caption="&amp;lt;p&amp;gt;Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment&amp;lt;/p&amp;gt;"></div> It's time to move over from plain, vanilla budget basics! Indians are no longer looking for “best purchases and value buys under Rs 1,000”—at least not as much as before. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s getting fancy, and how! From gold-flaked chocolates to swanky SUVs that look like they’re wheeled straight out of a Bollywood blockbuster, Indian companies are rapidly jazzing up their product lines, even faster than you can say the word "premiumization." But what does this mean for Indian companies and consumers? What is this jazz about premiumization all about? Is it just urban India that’s riding this wave, or has rural India also joined the bandwagon? We decode for you. <h2>What's premium, really?</h2>Imagine you’re eating Pav Bhaji at a roadside thela. Later during the day, you decide to dine out at a fancy, upmarket cafe, only to find Pav Bhaji Fondue on the menu. Same same, but much more expensive—often 5 to 10 times higher—for a little more hygiene and some better ambience! Think of premium products as this fondue. They are a notch up your regular, daily-use products soaps or shampoos, and even cars, all packaged luxuriously, offering just about the right touch of quality. The main differentiator, though, would be the price range. <h2>Driving home premium wellness</h2>A recent report by Nielsen suggests that over 70% of urban Indians are okay with paying a premium for their products. And companies are cashing in on this sentiment like never before. This explains why 58% of new products launched so far this year have been in the premium+ segment, as opposed to just 38% of new launches in regular, traditional trade. Take cars, for instance. Indians are no longer vying for a good old <keyword id="19950117" type="General" weightage="20" keywordseo="maruti" source="keywords">Maruti</keyword> 800 or <keyword id="20400567" type="General" weightage="20" keywordseo="alto" source="keywords">Alto</keyword>, traditionally known for their healthy mileage, but are rather happy investing in more swanky features that come along with high-end cars. In October 2024, India’s largest car manufacturer, <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, sold 65,948 units of its compact cars like Swift, WagonR, Dzire, and more. Compared to the year-ago period, which saw sales of 80,662 units, this was an 18% dip. But take a look at their SUV (sport utility vehicle) sales for the same period. Cars like Brezza, Ertiga, and Grand Vitara sold about 70,644 units, a 19% uptick from the sales made in October 2023, i.e. 59,147 units. Simply put, when it comes to cars, Indians are saying the bigger, the better! The same is true for India's second biggest automobile manufacturer, Hyundai. Its SUV lineup made up a staggering 68.2% of the firm's total sales made for October 2024. What's more, SUV demand remained largely consistent across urban and rural markets. <h2>Consumers are inching up</h2>FMCG (fast-moving consumer goods) are also riding the premiumization wave, with Indians prioritizing their health and wellness and not bothered about dishing out a few extra bucks for the same! You’ll find no dearth of words like organic, vegan, gluten-free, and sugar-free, peppered generously over every product you’ll see today, be it soaps, juices, or more. No wonder then, sales from premium segments in 2024 make up around 27% of all FMCG sales and even contribute a massive 42% to the sector’s value growth in India. Nielsen report further adds that luxury brands that position themselves at twice the price of their category’s average are even witnessing stellar growth. In fact, for most FMCG brands like Tata Consumer Products, <keyword id="20002610" type="General" weightage="20" keywordseo="hindustan-unilever" source="keywords">Hindustan Unilever</keyword> (HUL), Dabur, and Nestle, it is this premium segment that is growing much faster than their regular ones. And it's not just about daily-use products; Indians are also taking their celebrations a step over. Spirits manufacturer <keyword id="20125704" type="General" weightage="20" keywordseo="radico-khaitan" source="keywords">Radico Khaitan</keyword> highlighted that for the first half of 2024, their prestige &amp; above segment made for 88.4% of its net sales value. In the same period, the regular popular segment accounted for just 9.1% of their net sales. From Hindustan Unilever, which saw its premium products grow 30% over the last quarter, to <keyword id="20521971" type="General" weightage="20" keywordseo="kingfisher" source="keywords">Kingfisher</keyword> beer's parent company, <keyword id="20124009" type="General" weightage="20" keywordseo="united-breweries" source="keywords">United Breweries</keyword>, whose premium product sales volume jumped by 27% during the quarter as opposed to just a 5% rise in overall volumes, everyone is seemingly taking their lifestyle a notch above. Per the Nielsen report, in 2024, a typical global consumer spends about $13.7k per year. This is set to grow by around 2.4% to $14k as early as next year. Even a report by Goldman Sachs also highlighted a similar trend, noting that India’s affluent class, or those earning over $10,000 (Rs 8,42,694.97), is set to reach 100 million in the next 3 years. And where will this consumer spend? On premium products! <h2>Online shopping shifts from mass to class</h2>Amazon’s Great Indian Shopping Festival, which was live between September 27 and October 29 this year, saw 140 crore customers, more than 85% of whom came from non-metro Indian cities. On the site, there was a 400% spike in sales in premium sales across categories like watches, fragrances, handbags, jewelry, and more. Rival <keyword id="19896939" type="General" weightage="20" keywordseo="flipkart" source="keywords">Flipkart</keyword> noted a similar trend, recording 1.8x growth in premium beauty and personal care products during the first half of this year. <h2>Dialing in premiumness</h2>The Indian smartphone ecosystem has always been dominated by basic phones, or those entry- and mid-range phones that are priced between Rs 10,000 and Rs 6,000. But that has changed in recent times, with premium smartphones (i.e., those priced over Rs 60,000) registering 20%+ growth in 2024. During the first quarter of this year, sales of mass phones (priced between Rs 10,000 and 20,000) reached 44%, compared to 51% in the year-ago period. But it's all sunny and shiny in the mid-premium (priced between Rs 40,000 and Rs 60,000) and super-premium segments (priced above Rs 60,000). Sales growth has burgeoned by as much as 27% and 86% in these categories, respectively. As India continues its march toward becoming the world's third-largest economy by 2027, the premium party is just getting started. Industry experts predict that premium segments will grow faster than you can say "sustainable organic handcrafted artisanal batch of coffee." So the next time you see someone dropping serious rupees on a fancy bottle of black water that also somehow plays music and tracks their hydration (yes, that's a thing), remember: This is just the trailer. Picture abhi baaki hai, mere dost! Do you have a topic in mind you'd want a simpler explanation for, or insights or experiences to share on personal finance and more? Contact us at businessinsider@timesinternet.in.

Simply Put: From Dal to Dolce—India is loving its luxury life

<ul><li>Radico launches a new initiative to celebrate <keyword id="62185" type="PERSON" weightage="20" keywordseo="Indian-athletes">Indian athletes</keyword>. </li><li>With this association, <keyword id="61385" type="COMPANY" weightage="20" keywordseo="Radico-Khaitan">Radico Khaitan</keyword> is also taking forward the tradition of celebrating art, culture and literature in the country.</li></ul>Radico Khaitan has come up with power-packed initiative to cheer Indian Athletes at the Tokyo Olympics 2020. The company has launched a song- “Spirit of Victory/Jeet ki Hichki-A tribute to Indian Athletes” under the banner of The Spirit of Victory. Through the song, Radico Khaitan is cheering and paying tribute to the Indian Athletes who are participating this year. The song is written and sung by music artist Padamjeet Sehrawat. The Music is given by Kamal Joshi. <div type="Youtube" id="-Y-vGyIEGHI" title="Song//Spirit of Victory :A Tribute To India Athletes// Padamjeet Sehrawat" thumbUrl="https://i.ytimg.com/vi/-Y-vGyIEGHI/mqdefault.jpg"></div> Apart from dedicating a host of products on different wars under the Spirit of Victory series, the company had earlier come up with a power packed initiative for India’s 74th Independence Day, where we launched a gratitude song ‘Shukriya’ by the writer, singer and composer Padamjeet Sehrawat under the banner of The Spirit of Victory in the honour of the <keyword id="6354416" type="ORGANIZATION" weightage="20" keywordseo="Indian-Army">Indian Army</keyword>. Through the song, Radico Khaitan paid tribute to the warriors for their exemplary courage and expressed gratitude to them for being the savior of the nation and prioritizing the pride and security of the motherland over their own safety. The company had also associated with <keyword id="11772279" type="UNKNOWN" weightage="20" keywordseo="tales-of-valour">Tales of Valour</keyword>, which was a series of authoritative factual war documentaries depicting the 10 most valiant stories of bravery - many of which are unknown to most Indians - displayed in the wars India has fought post 1947. It too was an initiative which had us expressing our respect to the martyrs, war widows and soldiers for their extraordinary acts of bravery. Speaking on the launch of the song, Amar Sinha, COO of Radico Khaitan, said, India has a long history connected to Olympics. Launching this song is a small effort in the direction of saluting their devotion towards the country and cheering for them for making India proud again. Their spirit is a source of inspiration for all of us. The youth looks upto them as their role models and we hope every household in India will have atleast one sportsman in the years to come.” Liquor maker recently reported a 35.65% increase in its consolidated net profit at Rs 60.87 crore for the first quarter ended June 2021. With this association, Radico Khaitan is also taking forward the tradition of celebrating art, culture and literature in the country. The company’s focus on mindful marketing strategy leaps into the future with its associations with a social cause attached to it. As the company has been outperforming the industry for the last 5 years, our objective of creating an inclusive and wholesome ecosystem comes true with such activities.

Radico launches a music video to honour Indian athletes at the Tokyo Olympics

New Delhi, Mar 23 () Liquor maker Radico Khaitan Ltd has said the company will start manufacturing hand santizer from its Rampur distillery amidst the coronavirus outbreak. The company has already applied for necessary permissions and chalked out distribution plans for hand sanitizers, which would be available in the market soon, it said in a statement. "Being one of the largest spirit manufactures in India, we have decided to extend our support to the country in this worrisome time of coronavirus outbreak," Radico Khaitan Chief Operating Officer Amar Sinha said. "Radico Khaitan has kickstarted to expand the use of Extra Neutral Alchohol at its mother distillery in Rampur into production of hand sanitizer which will be available at retail stores in a few days," he added. The company's move comes in the wake of the dire need of hand sanitizers as part of measures to combat the novel coronavirus outbreak in the country, Sinha said. KRH RVK

Radico Khaitan to manufacture hand sanitizer

New Delhi, Jan 23 () Liquor maker Radico Khaitan on Thursday reported a 12.97 per cent rise in consolidated net profit to Rs 59.74 crore for the quarter ended on December 31, 2019.
 The company had posted a net profit of Rs 52.88 crore for the corresponding period of previous fiscal, Radico Khaitan said in a BSE filing.
 Total income stood at Rs 2,013.46 crore for the quarter under review as against Rs 2,061.12 crore for the same period year ago.
 "Radico Khaitan has delivered another quarter of a strong operational and financial performance. The company continued to outperform the industry which is a testament to our robust product portfolio, strong brand equity and consumer royalty," Radico Khaitan Chairman and MD Lalit Khaitan said.
 Shares of Radico Khaitan closed at Rs 358.45 per scrip on the BSE, down 1.63 per cent over previous close. AKT RUJ
RUJ

Radico Khaitan Q3 net profit up 13 pc to Rs 59.74 cr

Mumbai, Mar 24 () Led by market leader Diageo, the liquor industry is joining hands with state governments to fight the coronavirus pandemic by manufacturing and supplying hand sanitisers. The coronavirus pandemic has led to a high demand for sanitisers as hand washing is an effective way to keep the infection away. Liquor companies like Diageo and Radico Khaitan have decided to stop bottling alcohol at some of their plants and instead make hand sanitisers following an appeal by the government and a promise to give them the needed permits. "We will support the government and the hospitality sector during this pandemic by manufacturing 3 lakh litres of bulk hand sanitisers from our 15 units across the country," Anand Kripalu, managing director and chief executive officer of Diageo India, said. As part of the initiative, the company will also donate 5 lakh litres of ENA (Extra Neutral Alcohol), which is a key ingredient in making sanitisers, to the sanitiser industry, he said in a statement. This amount of ENA can produce more than 2 million units (250 ml each) of hand sanitisers, he added. Diageo is the country's largest liquor maker. The country's second largest liquor maker Allied Blenders &amp; Distillers, which produces the globally largest selling whiskey Officer's Choice, said it has not decided on manufacturing hand sanitisers since there is a tedious licensing process. "We have not taken a final call on this. A liquor company cannot make something that needs a drug licence under the existing licence. Having said so, it does not mean we will not do our bit to help the nation," Deepak Roy, vice-chairman of ABD, told over phone on Tuesday. Smaller player Radico Khaitan said it would start producing sanitisers from its Rampur distillery and has already applied for necessary permissions. It has also chalked out distribution plans. "Being a leading spirit manufacturer, we have decided to extend our support to the country in this worrisome time of the coronavirus outbreak," Radico Khaitan Chief Operating Officer Amar Sinha said in a statement. "Radico Khaitan has kick-started expanding the use of ENA at its mother distillery in Rampur into production of hand sanitiser which will be available at retail stores in a few days," he added. According to Kripalu, Diageo has also announced health insurance cover to on-trade partners and donation of free masks to government public health departments. As part of this initiative, it is offering health insurance cover worth Rs 3 crore to bartenders and would also donate around 1,50,000 masks to the public health departments of five states. An e-mail sent to the All India Distillers Association did not elicit a response on questions about other distillers' efforts towards making hand sanitisers. Last week, FMCG leader HUL cut the prices of its handwash product and also promised to increase production to help alleviate supplies issues in the wake of the coronavirus pandemic. Beauty products maker VLCC has also started production of hand sanitisers. Some liquor companies overseas are also in the process of making hand sanitisers. "While we advise that you cannot use our standard vodka product as a hand sanitizer, our team at the distillery has been working hard to get all of the pieces in place to begin production on a hand sanitizer that adheres to industry and governmental guidance," American vodka maker Tito's said in a tweet on Sunday. BEN RAM HRS

Coronavirus: Liquor majors Diageo, Radico to make hand sanitisers now

<ul><li>After seeing a positive trend in the first few days of the year, the market witnessed a huge sell-off on weak global cues.</li><li>Markets were swayed by the US Federal Reserve Minutes commentary, which indicated interest rate hike will be sooner than expected and the central bank will stop economic stimulus measures.</li><li>Investors shrugged off shares of banks, IT, metals, auto, infrastructure and bought some essential services stocks like pharma.</li></ul><keyword id="46038" type="General" weightage="20" keywordseo="indian-markets" source="Orion">Indian markets</keyword> fell steeply about 900 points on January 6 mirroring losses in other Asian and the US markets after the US Federal Reserve announced that it will stop measures for economic stimulus and increase interest rates sooner than expected. “Participants generally noted that, given their individual outlooks for the economy, the labour market, and inflation, it may become warranted to increase the federal funds rate sooner or at a faster pace than participants had earlier anticipated. Some participants also noted that it could be appropriate to begin to reduce the size of the Federal Reserve's balance sheet relatively soon after beginning to raise the federal funds rate," said the US Fed in the monetary policy minutes. From the US Fed minutes commentary, markets have reportedly anticipated Fed to reduce its holdings of treasury bonds, which pushed the 10-year US Treasury yield to 1.7%. The US Fed commentary to “reduce the size of the Federal Reserve's balance sheet” indicated that it will soon sell some of the bonds held in its account. This triggered the 10-year treasury bond yield, which went up to 1.7% <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global markets </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change as of 10:55 a.m. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ASX All Ordinaries (Australia) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.71% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SE Composite Index (China) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hang Seng (Hong Kong) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.57% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sensex (India) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nikkei 225 (Japan) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TSEC 50 Index (Taiwan) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.23% </td></tr></tbody></table>Huge sell-off in the market led to fall in shares of banks, fast moving consumer goods (FMCG), IT and metal companies. As the fear of COVID-19 persists with rising cases and increasing restrictions in many Indian cities, investors bought some selective essential company stocks. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in share price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gland Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.47% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Laurus Labs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.71% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lupin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.52% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Abbott India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.67% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Natco Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.45% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alkem Laboratories </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emami </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.21% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Radico Khaitan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.76% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Procter &amp; Gamble Hygiene and Health Care </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.63% </td></tr></tbody></table>Few weeks back, the US Fed said that it will soon end COVID-19 stimulus programmes and raise interest rates three times next year, which <a href="https://www.businessinsider.in/stock-market/news/constant-fii-selling-since-october-bleeds-indian-markets/articleshow/88339477.cms">triggered the stock markets last year.</a> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-slumps-over-450-points-in-early-trade-nifty-slips-below-17800-hdfc-hcl-tech-hdfc-bank-infosys-kotak-bank-tech-mahindra-and-tcs-top-losers/articleshow/88725853.cms">Sensex slumps over 450 points in early trade; Nifty slips below 17,800 — HDFC, HCL Tech, HDFC Bank, Infosys, Kotak Bank, Tech Mahindra and TCS top losers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-clocks-over-90000-fresh-covid-19-cases-and-325-deaths-in-the-last-24-hours/articleshow/88726971.cms">India clocks over 90,000 fresh COVID-19 cases and 325 deaths in the last 24 hours</a>

Indian markets see huge sell-off after US Fed says interest rate hike will be sooner than expected

Stock prices of major liquor stocks, including United Spirits and Radico Khaitan plunged on Tuesday after the Delhi <keyword id="26362" type="COMPANY" weightage="20" keywordseo="Government">government</keyword> imposed a 70% 'special corona fee' on the sale of alcohol in the city. Other states like <keyword id="37102" type="LOCATION" weightage="20" keywordseo="Andhra-Pradesh">Andhra Pradesh</keyword> have also raised taxes on liquor as all possible avenues of boosting revenue are being explored to fight Covid-19 outbreak. <div type="Article" hostid="261" msid="75545892" title="Booze 70% costlier as Delhi slaps special corona fee starting today" mstype="2" mssubtype="0"></div> Around 11.30 a.m., shares of Radico Khaitan, the maker of Magic Moments and Rampur Indian Single Malt Whisky, were at Rs 303.85, lower by Rs 12.75 or 4.03 per cent from its previous close. Stocks of United Spirits were at Rs 527.65 per share, lower by Rs 13.95 or 2.58 per cent from the previous close. United Spirits produces the brands Black Label, Black Dog and 'Smirnoff' vodka among others. Further, the scrip of <keyword id="81868" type="DOMAIN" weightage="20" keywordseo="United-Breweries">United Breweries</keyword>, the maker of the '<keyword id="6360137" type="COMPANY" weightage="20" keywordseo="kingfisher">Kingfisher</keyword>' brand of beer, also fell around two per cent. Around 11.30 a.m. it was trading at Rs 948.55, lower by Rs 21.55 or 2.22 per cent from the previous close. In an order issued late on Monday night, the Finance Department imposed the fee, describing it as the 70 per cent of the maximum retail price on all categories of liquor sold through retail licensees for consumption "off" the premises. "The Delhi government has levied a Special Corona Fee -- 70 per cent of the Maximum Retail Price (MRP) -- on all categories of liquor from the consumer at the Point of Sale by the retail vend licensees for consumption off the premises, which will be further reimbursed to the Government," the order signed by Deputy Commissioner (Excise) said. The liquor industry, however, has said that the move would have negative impact on the industry economy. Vinod Giri, Director General of the Confederation of <keyword id="9026991" type="COMPANY" weightage="20" keywordseo="indian-alcoholic-beverage-companies">Indian Alcoholic Beverage Companies</keyword> (CIABC) said that such steep hike in levies could be counter-productive in the long run. <div type="Article" hostid="261" msid="75548883" title="Andhra Pradesh government hikes liquor prices by another 50%" mstype="2" mssubtype="0"></div>

Major liquor stocks price plunge after state governments levy Corona fee

New Delhi, Mar 25 () Supply of hand sanitisers in the market is set to increase in the coming days, with liquor makers in various states starting to manufacture them on a priority basis, according to an industry grouping. All India Distillers' Association (AIDA) on Wednesday said distilleries in Punjab, Haryana, Rajasthan, Karnataka, Uttar Pradesh, Tamil Nadu, Gujarat and other states have started production of hand sanitisers. This follows appeals by various state governments amid rising demand for hand sanitisers in the wake of the coronavirus pandemic. Many state governments have granted licenses to distillers in quick time, in some cases the same day, to manufacture and sell hand sanitisers. They would be sold at the central government-mandated price limits, a senior AIDA representative said. "Availability of hand sanitisers would improve in the market within a couple of days... within three to four days, we would have sufficient quantity in the market," AIDA Director General V N Raina told . According to him, around 45 to 50 distilleries in the country have agreed to produce hand sanitisers. There was panic buying of hand sanitisers in the market following cases of coronavirus infections being reported in the country. Though several FMCG companies, including HUL, ITC, Godrej and Himalaya, have expanded their production of hand sanitisers, there still seems to be supply shortage due to the high demand. To tackle the situation, Raina said the central government has directed all states to immediately grant licenses to distilleries for manufacturing hand sanitisers. "Lots of distillers do not have packing facilities as in small bottles of 100 ml or 200 ml. Generally, they have only liquor bottles for packing. Despite that around 45-50 distilleries are doing that," he said. As per the WHO standards, the base for hand sanitisers is alcohol. "I am happy that our members and the industry have responded to this crisis very well. The government is also very happy about the way we have responded to the current situation," Raina said. Several liquor makers, including market leader Diageo and Radico Khaitan, have already announced that they would manufacture and supply hand sanitisers. There are more than 550 coronavirus cases in the country. Washing hands frequently is among the effective ways to curb spreading of the infection. On whether liquor makers would continue to produce hand sanitisers even after the coronavirus pandemic is over, Raina said it would depend on future demand. "They would continue manufacturing as they have the licenses... once the crisis is over, the demand would go down. "We would have to see and analyse what is the demand then," he said. Last week, the government capped the maximum retail price of hand sanitiser at Rs 100 per 200 ml bottle till June 30, amid a sharp rise in prices. KRH RAM

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