Prabhat Dairy gains 3% after foraying into animal nutrition business

The company will develop two products one for Milking Cow and another for Dry Cow. It will engage with 150 selected farms to administer the products to 1,000 cows.

Jan 08, 2019 05:01 IST India Infoline News Service

Shares of Prabhat Dairy were trading 3% higher on Tuesday after the company forayed into the animal nutrition business.

Accordingly, the company has "taken preliminary steps in the area of mineral premixes by executing a joint development agreement with DLG for the development of two products in Denmark for the improvement of health and to increase milk productivity and quality of cattle," the company said in a press note after market hours to the exchanges on Monday.

The company will develop two products one for Milking Cow and another for Dry Cow. It will engage with 150 selected farms to administer the products to 1,000 cows. "This pilot phase will be for 4-6 months. Post successful pilot, commercial launch will be planned by the company," added Prabhat Dairy in the press note.

Prabhat Dairy Ltd's share price is currently at Rs95.20, up by Rs2.65 or 2.86%, from its previous close of Rs92.55 on the BSE.

The scrip opened at Rs97.70 and has touched a high and low of Rs97.90 and Rs94.75, respectively. So far, 2,10,257 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs903.99cr.

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