D-Mart, Venky's, Cholamandalam Investment hit record highs

Shares of Avenue Supermarts, which runs the D-Mart supermarkets chain, poultry producer company Venky’s (India) and finance firm Cholamandalam Investment and Finance Company have hit their respective record highs on the BSE in intra-day trade on Friday.

Venky’s (India) has surged 10% to Rs 3,230, extending its past two days 10% rally, on back of heavy volumes. The trading volumes on the counter jumped more than five-fold with a combined 377,910 shares changed hands on the BSE and NSE so far.

The company diversified its activities to include SPF eggs, chicken and eggs processing, broiler and layer breeding, genetic research and Poultry diseases diagnostic, Poultry vaccines and feed supplements, vaccine production, bio-security products, Poultry feed & equipments, nutritional health products, soya bean extract and many more. The company also supplies meat directly and indirectly to fast food chains in India such as KFC, McDonald’s, Pizza Hut and Dominos.
Analyst at Quantum Securities believes Venky’s is in a good spot with benign raw material prices and robust poultry prices.