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Venky’s India Stock Priced Soared 15%; Volume Grew 30.35 Times!

17 July 20233 mins read by Angel One
The stock has gained momentum in the past 3 years as it has given returns of over 89%.
Venky’s India Stock Priced Soared 15%; Volume Grew 30.35 Times!
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The bulls of D-Street appeared to be taking a breather as both the Sensex and Nifty started the day with little change, opening on a flat note. However, there was a slight positive movement, with both indices trading higher by 0.31% each. This indicated a relatively modest market sentiment, lacking significant momentum.

The shares of Venky’s India Limited managed to dazzle investors with an impressive surge of 15.11%. Adding to the excitement, the scrip witnessed a massive spurt in volume by more than 30.35 times. This exceptional performance by Venky’s India Limited was indicative of positive investor sentiment and suggested that the company’s stock had outperformed the broader market during the given period. Notably, the company’s current market capitalization stands at Rs 2,671.10 crore. 

Venky’s India Limited is part of the V H Group, an Indian conglomerate specializing in the poultry industry. The group comprises various companies engaged in processed food, animal vaccines, human and animal pharmaceuticals, and healthcare products. Originally established as Venkateshwara Hatcheries Pvt Ltd in 1971 in Hyderabad, India, the company later shifted its base to Pune in pursuit of favourable climatic conditions essential for livestock research.

In terms of financial performance, Venky’s India Limited reported a total revenue of Rs 4234 crore in the fiscal year 2022-2023. This represented a slight decline of 3.77% compared to the previous fiscal year. The company also witnessed a decrease in operating profit, with figures reaching Rs 112 crore, indicating a decline of 54.47% compared to the previous year. Furthermore, the net profit of the company experienced a modest decrease of 57.5% from the previous fiscal year, amounting to Rs 70 crore. 

Despite the recent fluctuations, Venky’s India Limited has shown impressive momentum over the past three years, delivering staggering returns of more than 89%.

Keep a close eye on this trending stock. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.

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