Meanwhile, the BSE Sensex was down 60.71 points, or 0.35% to 17,196.65.

On BSE, 57,000 shares were traded in the counter as against an average daily volume of 3.57 lakh shares in the past one quarter.

The stock hit a high of Rs 52.30 and a low of Rs 50 so far during the day. The stock had hit a 52-week low of Rs 27.50 on 3 October 2011. The stock had hit a 52-week high of Rs 70.65 on 7 April 2011.

The stock had underperformed the market over the past one month till 27 March 2012, falling 9.08% compared with the Sensex's 1.08% fall. The scrip had, however, outperformed the market in past one quarter, surging 56.31% as against Sensex's 8.71% gain.

The small-cap liquor maker has an equity capital of Rs 115.47 crore. Face value per share is Rs 10.

The Tilaknagar Industries stock has tumbled 11.5% in three trading sessions from Rs 57.80 on 23 March 2012, after the Tamil Nadu government in its state budget 2012-13 presented on Monday, 26 March 2012 proposed 14.5% tax on liquor to generate Rs 1500 crore revenue for the state exchequer.

Alcoholic liquor of all kinds purchased, procured and brought outside from Tamil Nadu, other than foreign liquor, under certain sections of the TNVAT Act, will be taxed at the rate of 14.5% at the second point of sale, Tamil Nadu Finance Minister Mr O Panneerselvam said.

Meanwhile, Tilaknagar Industries during trading hours on Monday, 26 Monday 2012 said it has acquired 90% stake in Shivprabha Sugars.

On a consolidated basis, Tilaknagar Industries' net profit rose 50.9% to Rs 16.63 crore on 16.5% growth in net sales to Rs 148.81 crore in Q3 December 2011 over Q3 December 2010.

Tilaknagar Industries (TI) is one of the renowned Indian Made Foreign Liquor players (including whisky, brandy, gin, rum and vodka) with presence across India. The company manufactures, markets and sells more than 40 brands across all price points. TI's subsidiaries are Prag Distillery (P), Vahni Distilleries, Kesarval Springs Distillers and Punjab Expo Breveries with additional 5 subsidiaries for TI's allied activities. The company exports its products to Western Africa, the Middle East, the Far East and Caribbean countries.