The stock of Godrej Group Company was up 45% against issue price of Rs 460 per share hit its highest level since listing on October 16, 2017. It made a strong debut by gaining 30% to close at Rs 596 on debut day.
After listing, till February 2, 2018, before announcing December quarter (Q3FY18) results, it underperformed the marking by falling 6% against 5% rise in the S&P BSE Sensex. Post Q3FY18 earnings, the stock surged 19% against 0.17% decline in the benchmark index.
Godrej Agrovet is an agri-business company with operations in five business verticals - animal feed, crop protection, oil palm, dairy, and poultry and processed foods.
Godrej Agrovet reported a 7% year-on-year (YoY) increase in revenue and net profit in Q3FY18.
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