NGT nod: Umang Dairy's Gajraula plant to start operation, shares up

India Infoline News Service | Mumbai | May 17, 2017 11:59 IST

Umang Dairies, the dairy product maker’s share on Wednesday rallied 11% as the investors cheered the company’s resuming operations at one of its plants.

Umang Dairies, the dairy product maker’s share on Wednesday rallied 11% as the investors cheered the company’s resuming operations at one of its plants.
 
The company in its filing to the exchanges said that the National Gree Tribunal (NGT) has passed an order permitting the company to start operations at its Gajraula plant.
 
The company had temporarily shut down its plant in Gajraula to comply with the order of the National Green Tribunal.
 
The stock of the company on the NSE has delivered just above 36% returns in a period of one year and has underperformed the BSE Small cap and has outperformed the BSE FMCG indices over the same time span.
 
Umang Dairies’ principal products/services include ghee and milk powder. The company offers various brands, which include White Magik, Dairy Top and Milk Star.

Stock view:
 
Umang Dairies Ltd is currently trading at Rs 87.05, up by Rs 4.95 or 6.03% from its previous closing of Rs 82.1 on the BSE.
 
The scrip opened at Rs 82.45 and has touched a high and low of Rs 91.05 and Rs 82.45 respectively. So far 157630(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 180.65 crore.
 
The BSE group 'B' stock of face value Rs 5 has touched a 52 week high of Rs 101 on 30-Oct-2016 and a 52 week low of Rs 60.75 on 17-Aug-2016. Last one week high and low of the scrip stood at Rs 83.95 and Rs 80.6 respectively.
 
The promoters holding in the company stood at 74.61 % while Institutions and Non-Institutions held 0.07 % and 25.32 % respectively.
 
The stock is currently trading above its 50 DMA.

***Note: This is a NSE Chart

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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