Godrej Agrovet shines on getting allotted land for oil palm in Telangana

Godrej Agrovet is currently trading at Rs. 501.05, up by 27.70 points or 5.85% from its previous closing of Rs. 473.35 on the BSE.

The scrip opened at Rs. 476.95 and has touched a high and low of Rs. 528.00 and Rs. 467.90 respectively. So far 106952 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 560.00 on 13-Sep-2022 and a 52 week low of Rs. 391.20 on 28-Mar-2023.

Last one week high and low of the scrip stood at Rs. 528.00 and Rs. 453.60 respectively. The current market cap of the company is Rs. 9860.22 crore.

The promoters holding in the company stood at 74.07%, while Institutions and Non-Institutions held 14.71% and 11.22% respectively.

Godrej Agrovet has been allotted potential area of 47,000 Acre in Sangareddy District of Telangana. Allocated by Department of Agriculture and Cooperation (Horti. & Seri.), Government of Telangana, the allotted area will be utilized by the company to expand cultivation of Oil Palm and set up Oil Palm processing units.

Recently, the company inaugurated an edible oil refinery at Chintalapudi, Eluru district. This is company’s first downstream project for value-added products in oil and fats and will help cater captive needs originating from the company’s oil palm work in the southern states along with demand from other crude palm oil players in the region.

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