India: United Breweries shares trading lower despite launch of new beer in Karnataka

Shares of United Breweries Ltd were trading in the red and 1% lower on 11 March despite the launch of a beer brand in Karnataka, Equitypandit reported.

The company announced the launch of Kingfisher Ultra Max draught beer in its premium strong beer category Karnataka after they saw success in Chandigarh and Punjab.

Vikram Bahl, Chief Marketing Officer at United Breweries Limited, said, “The launch of Kingfisher Ultra Max Draught Beer in Karnataka marks a significant milestone in our journey.”

Earlier on 29 February, the company launched its London Pilsner, which is a new standard for pilsner beer in Karnataka that showcases the high quality and rich brewing history behind it. The beer showcases the essence of premium craftsmanship and delivers a distinct flavour profile and captivating senses due to its detailed brewing process.

The beer is priced at Rs 120 for each 650 ml bottle and is readily available at some of the leading outlets across Karnataka.

The beer has been crafted with European hops and is subjected to a week-long ageing process at sub-zero temperature that represents sophisticated and uncompromising quality. Karnataka will be the second market after Maharashtra, where London Pilsner Beer will be available.

At 2:45 pm, the shares of United Breweries were trading 0.11% lower at Rs 1,697.40 on NSE.

11 March, 2024