Alcoholic beverages maker, Tilaknagar Industries Limited (TI) said it has signed a deal with French distiller Pernod Ricard to make their products at their Maharashtra manufacturing unit.
The agreement will be valid for the next ten years and could be extended to more states in the near future, said TI in a stock exchange statement.
Founded in 1933 as Maharashtra Sugar Mills, Amit Dahnukar led TI is among India's ten largest distillers and has a diverse portfolio of brands in categories including brandy, whisky, vodka, gin and rum and sells Mansion House brandy.
Pernod Ricard is the second biggest alcobev firm in India after Diageo's United Spirits and gets a significant chunk from premium and semi-premium brands, mainly Blenders Pride, Royal Stag and Imperial Blue.
On NSE, TI's stock rose 15% to close at Rs35.5 a piece, its highest since over five years.