Godrej Agrovet soars after promoter raises stake

Shares of Godrej Agrovet surged 11.11% to Rs 640.45 after the corporate’s promoter Godrej Industries hiked stake within the firm.

In keeping with BSE bulk offers knowledge, Godrej Industries acquired 9,76,047 shares (0.51% fairness) of Godrej Agrovet through the open market at a mean value of Rs 570 a share.

Balram Singh Yadav, a person investor, holding about 2.2% stake within the firm as of 31 March 2020, offered 10 lakh shares (0.52% fairness) of the corporate at a mean value of Rs 570.01 apiece yesterday, the majority offers knowledge confirmed.

Promoter Godrej Industries held 59.90% stake within the firm as on 31 March 2021.

The scrip of meals and agri conglomerate prolonged its profitable streak for third consecutive session. The inventory has added 15.31% in three classes, from its current closing low of Rs 555.40 on 18 June 2021.

Godrej Agrovet is a diversified, Analysis & Improvement centered agri-business firm. It holds main market positions within the totally different companies through which it operates – animal feed, crop safety, oil palm, dairy and poultry and processed meals.

The corporate’s consolidated web revenue slipped 8.4% to Rs 63.4 crore on 2.4% fall in web gross sales to Rs 1,455.25 crore in This autumn FY21 over This autumn FY20.

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(This story has not been edited by Enterprise Customary employees and is auto-generated from a syndicated feed.)

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