Radico Khaitan is sinking

Why is Radiko Khaitan sinking drastically? It has given good returns in the past.
Is there any news or corporate governing issues in it?

there might be higher sin tax on tobacco, alcohol in the coming budget. This is might be the reason, though this is a speculation.

Union Budget 2019-20 will be tabled in Parliament on July 5. The Budget session will begin from June 17 and is scheduled to end on July 26.

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Does this really affect the consumption of Alcohol? I was on a survey conducted in MP where Govt increased the tax on alcohol to deter people from consuming alcohol but ended up by getting 10% more revenue comparative to last year from Alcohol :rofl::rofl::rofl:

Whisky is a brilliant invention. One double and you start feeling single again.

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Based purely on what I’ve heard S.P. Tulsian say on T.V., it seems the price of molasses (which is apparently a raw material for alcohol production) has shot up by around 10 times in the last year. So you might want to google that.

Source for the above post :

Watch at around the 27:15 mark.