Asgard Alcobev share price, formerly known as Banganga Paper Industries jumped 3% to ₹57.25 on BSE on Friday, March 20 following broader market rally on Dalal Street.
The Indian stock market benchmark indices Sensex, Nifty continued trading over 1% higher on Friday, March 20 following gains in Asian peers aided by some fall in crude oil prices and well as a softer dollar. Moreover, sentiment was also risen by Israeli Prime Minister Benjamin Netanyahu saying that the country would refrain from targeting energy infrastructure going forward, adding that the conflict could end sooner than expected as Iran no longer has the capability to enrich uranium or produce ballistic missiles.
In intra-day deals, Sensex surged 977 points or 1.3% to day's high of 75,184 while Nifty rallied 302 points or 1.3% to intra-day high of 23,303.85.
The small-cap stock has soared 31% in last 1 week, 12.5% in past 1 month, 5% in 3 months and 20% in 6 months. However, in the past 1 year, it fell over 32%.
Asgard Alcobev names new MD
Asgard Alcobev announced a major leadership overhaul aimed at accelerating its transformation into a focused alcoholic beverages player.
The company 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, positioning him to lead the company’s next phase of growth.
Alongside this, the company 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.
“We are delighted to welcome Mr. Ronak Jain as Managing Director, along with Ms. Priyanka Jain and Mr. Binit Singhania in their new roles,” the Board of Directors said. “Their combined expertise… will be instrumental in driving Asgard Alcobev’s transformation and delivering sustainable value.”
The leadership changes come at a crucial time as the company pivots away from its legacy paper business to focus on the alcoholic beverages sector. The company has already acquired a majority stake in CMJ Breweries in Northeast India, strengthening its regional presence and growth prospects.
Commenting on his appointment, Ronak Jain said, “I am honoured to lead Asgard Alcobev at this pivotal time. Our immediate focus is on executing a forward-looking strategy… to revitalize the company and create long-term value for shareholders, partners, and customers.”
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 and a dynamic leadership team, Asgard Alcobev is committed to innovation, operational excellence, and long value creation.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
