Venky’s India stock zooms 16%, rises after four sessions

Shares of Venky’s India zoomed nearly 16% today and were among the top gainers on BSE. The stock has gained after four days of consecutive fall.  The rally in the poultry company’s stock comes amid the ongoing football world cup in Qatar which has led to a rise in demand for eggs. Gulf nations are turning to India to bridge the widening gap between demand and supply.  

Ukraine and Turkey are among the major egg exporters to the Gulf countries. However due to the ongoing war with Russia, the supply from Ukraine has been very unstable, giving India an opportunity to fill the gap. 

 In the afternoon session, shares of Venky’s India were trading 14.77% higher at Rs 2080 against the previous close of Rs 1813.05 on BSE.  

Earlier, the Venky’s India stock hit an intraday high of Rs 2,098, climbing 15.72% on BSE.  

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It opened at Rs 1,869.90, rising 3.14% on BSE today. Venky's (India) shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages .  

 The stock has lost 20% in a year and fallen 22.13% in 2022. However, it has climbed 12% in a week. 

Market cap of the firm rose to Rs 2,920.45 crore. Total 0.41 lakh shares of the firm changed hands amounting to a turnover of Rs 8.34 crore on BSE.  

 Venky's (India) Limited is engaged in the poultry sector that includes production of specific pathogen free (SPF) eggs, chicken and eggs processing, broiler and layer breeding, animal health products, poultry feed and equipment and soya bean extract, among others. The company's segments include poultry and poultry products, animal health products and oilseed.