BOM:507205

Choice Equity Downgrades Tilaknagar Industries to Add from Buy; Price Target is INR520

Tilaknagar Gets Approval to Start Operations of Arm's Expanded Capacity

Prag Distillery, a wholly-owned subsidiary of liquor manufacturer Tilaknagar Industries (NSE:TI, BOM:507205), received the required approvals from the government of Andhra Pradesh to begin production at its expanded facility in the Indian state, according to a Thursday filing to the Indian bourses.With this expansion, the bottling capacity in Prag will increase sixfold to 3.6 million cases per annum from 600,000 cases per annum currentlyIn 2025, the company's board approved an investment of 590 million Indian rupees for Prag's capacity expansion.The increased capacity will help the company to meet nearly 50% of its volume requirements in Andhra Pradesh.The company's shares were trading over 1% lower in recent trade.

Avendus Spark Starts Tilaknagar Industries at Buy with INR550 Price Target