Shares of Som Distilleries and Breweries Ltd. rose sharply on July 20, gaining 20% after veteran investor Prashant Jain acquired a 1.22% stake in the company during the June quarter.
Market analysts are speculating that ace investor Dolly Khanna may have sold her 1.49% holding, which could have added to the upward momentum.
The small‑cap stock had been trading near a 52‑week low, as the company struggled with weak demand, operational disruptions and a contraction in earnings.
On the day of the rally, Som Distilleries shares closed at Rs 78.18 each, marking a significant rebound from the lows.
The company produces a broad range of beer and Indian Made Foreign Liquor (IMFL). Its flagship beer brands include Hunter, Woodpecker and Black Fort, while its spirits line features White Fox Vodka, Milestone and Legend.
Som Distilleries is also setting up a new brewery and distillery in Uttar Pradesh, a major market for the company, with an investment of Rs 600 crore.
Shareholding data shows that Prashant Jain purchased 25 lakh shares during the June quarter, confirming his stake in the firm.