Shares of Sula Vineyards hit a record high. Stock surges 30% six straight sessions

sula vineyards share price The brewery has been climbing for the past six straight seasons after the company announced a strong Q3FY23 business update. Shares of Sula Vineyards have bounced around in the past six sessions from 325 432 at each level, an increase of over 32 percent over this time.

The initial public offering of Sula Vineyards Limited was launched in December 2022 at a price band of Rs. from 340 357 per equity share. Shares of Sula Vineyards got off to a bleak start as the stock opened at $1.00 358 per share and fell further to end at Rs 331.15 on its listing date. The sell-off in Sula Vineyards shares continued as the stock hit a lifetime low 305 on NSE. However, after killing At 305 level, Sula Vineyards share price jumped and broke 400 level.

than the upper price band of 357 per equity share, Sula Vineyards share price is almost 20 per cent higher today. Hence, the stock has given handsome returns to its allottees (within a month of its listing) Who? The investment in the stock remained in spite of the weak listing of the brewery stock in the Indian markets.

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In Q3FY23 business update, Sula Vineyards reports gross billings across its own brands 187.20 crore, up nearly 13 percent from 135.70 gross billings in the third quarter of the last fiscal year. The brewery company reported a 13-year increase in gross billing for its wine tours. In the Q3FY23 business update, the company has registered a gross billing of 23 cr in the wine tourism business which is 20.30 crore in the corresponding period of the previous financial year.