Shares of Radico Khaitan have gone up over 5% since the start of the year and have been having a great run at the bourses in the past few years.
Today the company announced that its popular vodka brand Magic Moments achieved sales of five million cases in FY23 up over 30% from last year’s sales of 3.8 million. Shares of the company started gaining momentum during the first covid lockdown in India in April 2020, and have since then tripled.
So, How Much Money You’d Have Now If You Invested In Radico Khaitan Shares Instead Of Buying That Magic Moments Vodka?
A Magic Moments Vodka bottle of 750 ml costs between ₹1,000-₹1,500 depending on the flavour and the state you buy it in. Now, three years back if you had invested ₹1,500 in the stock, on April 13, 2020, when the stock closed at ₹313.15, you would receive around five shares of the company. Today, those five shares would be worth around ₹5,375, as the stock trades around ₹1,075 levels. This translates to an over 250% return on investment. Your initial investment would have surged to ₹6,145 when the stock hit its 52-week high this February.
However, one should note that the company has been having a tough time recently. Its Q3-print missed market estimates. The company’s revenue and EBITDA both fell short of the consensus market estimates. Taking this into account, domestic brokerage firm, HDFC Securities maintained its sell rating on the stock with a price target of ₹900.
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Price Action: Radico Khaitan shares were down 3.08% to trade at ₹1,078 in the late hours of trading on Tuesday.
Disclaimer: Benzinga India doesn't give financial advice. The above article is for educational purposes alone.
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