Why Diageo and Pernod are under probe: India says bulk Scotch may not qualify for new lower tariff; check details
United Spirits is in focus.
· LiveMint Companies
The case centres on how the companies import bulk Scotch concentrates from Britain and blend them in India to produce popular local brands such as Royal Stag, Blenders Pride and McDowell’s.
The analysis
Against that, the stock is -2.5% on the day at ₹1,252.00, and has returned -8.5% over three months. It sits 20% below its 52-week high. The fmcg sector has moved -8.3% over the same period, so United Spirits is running 0.2 points behind its peers.
For United Spirits, the question is how much of this is already reflected in the price and how much re-rates the fmcg peer set alongside it.
Market context
- The company directly in focus is UNITDSPR.
- Sector exposure: FMCG.
- The immediate tone of coverage reads negative.
In this story
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