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Mumbai News: Sula Vineyards Gets Excise Duty Notice Of ₹116 Cr From Maharashtra Govt

Mumbai News: Sula Vineyards Gets Excise Duty Notice Of ₹116 Cr From Maharashtra Govt
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Sula Vineyards crack 7% after Rs 116 cr excise duty notice from Maharashtra govt

Shares of Sula Vineyards cracked about 7 per cent to Rs 481.85 on Wednesday, after the announcement, before making a mild recovery.

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Share Market Highlights 2 August 2023: Sensex, Nifty fall over 1% amid global sentiment slump

Share Market Highlights 2 August 2023: Sensex, Nifty fall over 1% amid global sentiment slump
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Sula Vineyards Falls 7% on Excise Duty Notice of Rs 116 Crore From Maharashtra Govt

The leading wine producer has received an excise duty notice of Rs 116 crore from the Maharashtra excise department.

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Sula Vineyards shares tank 7% on Rs 116 crore excise duty notice

However, Sula Vineyards in an exchange filing said, "It may be noted that the Order does not affect the existing business or the activities of the Company. The Company has always strived to and carried out its business in compliance with extant laws and regulations in letter and spirit."

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