A day after Maharashtra government approved an excise duty hike on liquor, shares of United Spirits, Radico Khaitan and Allied Blenders & Distillers, among other liquor stocks declined. United Spirits and Allied Blenders and Distillers' stocks fell over 6%. However, shares of Maharashtra's largest manufacturer of country liquor GM Breweries, and Sula Vineyards rose 18% and 12%, respectively.