Small-cap Beverage Stock Sees 3% Gain as Market Rally Continues

Asgard Alcobev Share Price Jumps 3% to ₹57.25 on BSE

On Friday, March 20, Asgard Alcobev (formerly Banganga Paper Industries) witnessed a 3% increase in its share price to ₹57.25 on the BSE, following a broader market rally on Dalal Street. The Indian stock market benchmark indices, Sensex and Nifty, continued trading over 1% higher, driven by gains in Asian peers and a softer dollar.

Market Indices Maintain Momentum

In intra-day deals, Sensex surged 977 points or 1.3% to a day's high of 75,184, while Nifty rallied 302 points or 1.3% to an intra-day high of 23,303.85. This momentum is attributed to a fall in crude oil prices and a softer dollar.

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Asgard Alcobev's Performance

In the past week, Asgard Alcobev has soared 31%, while in the past month, it has risen 12.5%. Over the past three months, the company has seen a 5% increase, and in the past six months, it has jumped 20%. However, in the past year, the company's share price has fallen over 32%.

Leadership Overhaul

Asgard Alcobev has announced a major leadership overhaul, aimed at accelerating its transformation into a focused alcoholic beverages player. The company has appointed Ronak Jain as Managing Director, effective March 19, 2026, as part of its strategic realignment. Jain brings over 15 years of experience across manufacturing, distribution, corporate strategy, and financial management.

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New Leadership Team

Alongside this, the company has strengthened its leadership team with the appointment of Priyanka Jain as Additional Director (Non-Executive) and Binit Singhania as Chief Financial Officer and Finance Director. The Board of Directors has expressed confidence in the combined expertise of the new leadership team, which will drive the company's transformation and deliver sustainable value.

Company Background

Asgard Alcobev Limited is an emerging player in India's alcoholic beverages industry, rebranded from Banganga Paper Industries Limited. The company has refocused on the growing liquor and beer market, with a strong Northeast India presence through its subsidiary CMJ Breweries.