New Delhi, March 6 -- Liquor stocks, including United Breweries, United Spirits, Tilaknagar Industries, and Radico Khaitan, gained in Friday's session, March 6, with each stock surging between 4% and 7% at their intraday highs after the Karnataka government announced a shift to a global taxation standard and the complete deregulation of alcohol pricing while presenting the state budget.

Karnataka, which is one of the largest states in India, is also among the biggest markets for alcoholic beverages, with its large base of young professionals and multinational workforce driving demand for premium brands.

Presenting the state budget in the Assembly, Chief Minister Siddaramaiah said the government would modernise the state's decades-old ex...