India, Oct. 8 -- Country liquor is the quiet giant of India's drinks market, bought by people who care far more about price than about labels. It is a regulated, state-by-state business, where rules on production, pricing and distribution shape what a company can earn. That makes steady volumes easy to come by, but protecting profit on every bottle harder.

Shares of G M Breweries Ltd. were closed at Rs. 890.00, down 9.64% from previous close of Rs. 984.95. The stock opened at Rs. 988.00 and reached an intraday high of Rs. 1,010.00 and low of Rs. 880.00. The company currently has a market capitalization of Rs. 2,021 crores.

What's the News GM Breweries reported a net profit of Rs. 39.3 crore for the September quarter, up 12.3% from Rs. 3...