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18-May2018

Godrej Agrovet rises with arm intending to invest Rs 400 crore in milk processing plants

Godrej Agrovet is currently trading at Rs. 633.90, up by 4.10 points or 0.65% from its previous closing of Rs. 629.80 on the BSE.

The scrip opened at Rs. 634.90 and has touched a high and low of Rs. 638.65 and Rs. 633.00 respectively. So far 3,804 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 736.80 on 23-Apr-2018 and a 52 week low of Rs. 524.00 on 16-Nov-2017.

Last one week high and low of the scrip stood at Rs. 694.40 and Rs. 611.15 respectively. The current market cap of the company is Rs. 12,174.62 crore.

The promoters holding in the company stood at 68.79%, while Institutions and Non-Institutions held 20.00% and 11.22% respectively.

Godrej Agrovet's subsidiary - Creamline Dairy Products (CDPL), as a part of its expansion plans, intends to invest Rs 400 crore in three greenfield milk processing plants in Tamil Nadu, North Karnataka and Maharashtra over the period of next three years.

CDPL had recently acquired a processing plant in Tirunelveli, Tamil Nadu and is in the process of setting up another plant in Vishakhapatnam. The objectives behind this proposed expansion, include growing the share of value-added milk products. In view of the same, it is expected that the milk processing capacity of CDPL would increase from 12 lakh litres per day to 15 lakh litres per day.

Godrej Agrovet is a diversified, research and development focused agri-business company with operations across five business verticals i.e. animal feed, crop protection, oil palm, dairy, and poultry and processed foods.




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