Thursday, April 8, 2010

Venkys India - Lifetime High

Venkys India - Lifetime High at 400.
up +15% today. on volumes of 4 lacs shares ( 4x 2 week avg.) cmp 420 crs. Vs est.
FY10 Sales of 650 crs and PAT of 45 crs. or FY10 PE of 10.
In last one year , promoter has also increased his stake from 53% to 56%.
Stock is up almost 4x from its 1 year low of 85.
But what was the reason for such a sharp jump when Sensex was down 250 points ? I think it has to do with recently succesful follow on IPO of US poultry firm SANDERSON FARMS that raised $125 Mn.( Managed by Morgan Stanley and JP Morgan). Overall market cap of $ 1 Billion.
Going good for Venkys and also for another listed firm in the same segment of Poultry.( will post the name and details later, for those who follow, they know the name of the company).

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