Venkys India hits new high; stock zooms over 150% in three months

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Venky’s (India) is locked in upper circuit of 5% for the second straight trading sessions at Rs 1,244, also its record high on BSE.
The stock of poultry firm is continued at its upward movement in past three months, gaining 152% as compared to 7% rise in the S&P BSE Sensex.
Venky’s India had reported a net profit of Rs 41.72 crore for the third quarter ended December 2016 (Q3FY17) against loss of Rs 2.73 crore in the same quarter year ago.
For the first nine months (April-December) of FY17, it reported an over four-fold jump in net profit at Rs 85.27 against Rs 18.10 crore in year ago period.
Meanwhile, foreign portfolio investors (FPIs), foreign institutional investors (FIIs) and high networth individuals have increased their stake during the recently concluded quarter.
FPIs/FIIs bought 46,844 equity shares of Venky’s (India) since January, according to March quarter shareholding pattern data filed by the company.
Deepak Bhagnani and Kirti Bhagnani purchased an additional 24,764 shares of the company through open market purchases. Their combined stake in Venky’s (India) increased to 7.18% in March quarter from 6.99% at the end of December quarter, data shows. Total individual shareholding in the company, however, declined to 33.43% from 34.56%. Read more

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