Stocks

Shares of poultry producer Venky’s hits 2-month low on bird flu outbreak

Reuters MUMBAI | Updated on January 07, 2021 Published on January 07, 2021

Shares of India's biggest poultry producer Venky's dropped more than 4 per cent on Thursday to their lowest level in two months after an outbreak of avian influenza was reported in four states.

Also listen to this podcast

 

Venky's shares fell for the fourth straight day on Thursday and were trading at Rs 1,515.95, down 2.85 per cent, after hitting a low of Rs 1,495.10 earlier in the day.

Avian influenza, also known as bird flu, was reported in Madhya Pradesh, Rajasthan, Himachal Pradesh and Kerala, the Maharashtra government said in a statement.

Kerala has started culling chickens and ducks to contain the virus, while Madhya Pradesh has banned imports of poultry products from Kerala for 10 days.

Indian soyabean futures fell more than 1 per cent on Thursday on fears demand for soyameal from the poultry industry could falter due to the bird flu outbreak.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on January 07, 2021
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.