The crowded beer market in the country is poised to welcome two more established labels. Singapore-based Asia Pacific Breweries (APB) has decided to brew its international brands, Tiger and Heineken, in India and is looking for suitable locations.
Talking about the company's portfolio expansion, APB-India CEO Ashwin Deo said, "Currently, we are looking at consolidating our presence and will look at introducing new products at various price points in the next eight to 10 months."
Australia's beverage company Foster's Group Ltd has sold its brewing interests in India and Vietnam for $225 million, marking its exit from beer-making in Asia.
Mallya left the country on March 2 and has had his passport revoked.
It took the Danish beer maker eight years to move among the top three.
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Banks, real estate and metal scrips among the top losers.
The market breadth, indicating the overall health of the market was strong
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices added 0.6% and 1.3%, respectively to touch their fresh lifetime highs.
S&P BSE Midcap index and S&P BSE Smallcap were down 2% and 1.3% respectively
Vijay Mallya has lost control of his companies.
The 30-share Sensex ended higher by 31 points at 26,591 and the 50-share Nifty gained 10 points at 8,061.
Soon after acquiring strategic management control of Vijay Mallya's crown jewel, United Spirits, Diageo has swung into action, making up for years of lost time in trying to figure out the Indian market.
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