Associated Alcohols & Breweries Company came up with good set of results after muted last few quarters.
Fundamentally, company is slowly moving into premium products – introduced premium Gin in the last quarter, premium Single Malt whiskey this quarter and several other drinks lined up for the next couple of quarters. They are also tapping into several new states like Maharashtra, UP, Goa, Pondicherry etc. This should give a big boost to the overall revenue going into the future. On top of that capacity utilization for the ethanol plant will be fully ramped up this year.Promoter did some buying as well in the last quarter.
Technically, the chart is very well placed. It completed the rounding bottom pattern and broke the lifetime highs at 650 with good volumes, retraced and retested the level and continued its upward journey last week.
P.S. this is my first post in the thread, so please excuse if any mistakes.
disc. invested.
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