Three months after Sula Vineyards’ market debut in December 2022, Sula shares rallied nearly 9% to Rs 371 in the third week of March when the brokerage firm, CLSA initiated coverage on
the stock with a buy rating. Analysts remain optimistic about the value of the stock in the long term. And CEO Rajeev Samant, himself, is confident about the future.
“The unseasonal rainfall in March has had minimal impact on the wine grapes, which tend to be much more resilient to inclement weather than table grapes,” he is quoted as saying. “The grape harvest at Sula Vineyards is shaping up to be excellent in quantity as well as quality and the new two million liter cellar facility at Domaine Dindori is up and running, in time to receive the record grape tonnage.”