Godrej Agrovet Hits Record High After Promoter Hikes Stake In Company

Godrej Agrovet was witnessing higher than usual trading volumes as 3.88 lakh shares changed hands on the BSE compared.

Godrej Agrovet Hits Record High After Promoter Hikes Stake In Company

Shares of animal feed and agri products maker - Godrej Agrovet - rallied as much as 15 per cent to hit record high of Rs 661.05 on the BSE a day after the company informed exchanges that it has increased stake in the company. Godrej Agrovet acquired additional 25.10 per cent of the paid-up equity share capital of Godrej Maxximilk Private Limited a subsidiary company, from the existing equity shareholders, thereby increasing its total shareholding in Godrej Maxximilk Private Limited from 74.90 per cent to 100 per cent.

After the acquisition, GMPL has become wholly-owned subsidiary of Godrej Agrovet Limited with effect from June 21, 2021, Godrej Agrovet said in a stock exchange filing.

Godrej Agrovet was witnessing higher than usual trading volumes as 3.88 lakh shares changed hands on the BSE compared with an average of 2.12 lakh shares traded daily in the past two weeks.

Godrej Agrovet shares have so far this year rallied 24 per cent outperforming the Sensex which has advanced 10 per cent.

As of 2:11 pm, Godrej Agrovet shares traded 11.58 per cent higher at Rs 643, outperforming the Sensex which was trading on a flat note.