Goldman Sachs has maintained ‘buy’ on Radico Khaitan with a target at Rs 1,144 a share
Radico Khaitan share price touched a 52-week high of Rs 1,043.80, rising 2 percent in the morning trade on October 12 after the liquor manufacturer unveiled two new luxury products in the brown and white spirit categories.
Radico Khaitan has launched Magic Moments Dazzle Vodka and Royal Ranthambore Heritage Collection Royal Crafted Whisky in the Indian spirits market.
Magic Moments Dazzle Vodka will be available in two variants—Magic Moments Dazzle Gold and Magic Moments Dazzle Vanilla. Royal Ranthambore is crafted from different bespoke Blended Malt Scotch from various regions of Scotland. Scotch grain is also blended to harmonise the Whisky, the company said in a press release.
“Every launch is an expression of the constant endeavour to provide our consumers with the exclusivity of experiences that are reserved for the discerning. We are delighted to announce the launch of our two most ambitious brands that we were working for the last three years,” Radico Khaitan COO Amar Sinha.
With the launch of the product, the brand also rolls out the marketing campaign to reinforce the brand position of being “India’s Finest Yet”.
Both Magic Moments Dazzle and Royal Ranthambore will be available in select stores in Delhi, Karnataka, Uttar Pradesh, Goa, Maharashtra, Rajasthan and Haryana in the first phase of launch.
Goldman Sachs has maintained buy on Radico Khaitan with a target at Rs 1,144 a share. Dazzle Vodka and Royal Ranthambore Whisky potentially fill up a couple of the product gaps, the research house said.
The new launches will allow the company to further build on the brand goodwill, it added.
At 0920 hours, Radico Khaitan was quoting at Rs 1,029.80, up Rs 7.90, or 0.77 percent on the BSE.