Pincon Spirit (PSL) has inked a Memorandum of Understanding (MoU) for takeover of five more liquor sales retail outlets in West Bengal to add on to its existing thirty eight numbers of retail liquor outlets.

The West Bengal Government has decided to issue On-shop Licenses to all existing Liquor Off-shop vends situated within 500 meters of all National and State Highways in the State of West Bengal with effect from April 1, 2017.

This remarkable decision of Government of West Bengal has extinguished any apprehension for negative impact on the sales volume of PSL in the coming years.

Shares of the company gained Rs 2.30 or 3.69%, to trade at Rs 64.80. The total volume of shares traded was 43,151 at the BSE (10.48 a.m., Tuesday).