Venky's shares tumble, hit two-month low as bird flu hits stock market | Mint
Active Stocks
Fri Feb 23 2024 15:58:13
  1. Tata Steel share price
  2. 145.50 -0.24%
  1. State Bank Of India share price
  2. 759.40 -0.86%
  1. HDFC Bank share price
  2. 1,420.90 0.08%
  1. NTPC share price
  2. 337.70 -0.54%
  1. ITC share price
  2. 411.60 -0.65%
Business News/ Markets / Stock Markets/  Venky's shares tumble, hit two-month low as bird flu hits stock market
BackBack

Venky's shares tumble, hit two-month low as bird flu hits stock market

Venky's shares fell for the fourth straight day today and were trading at ₹1,515.95, down 2.85%, after hitting a low of 1495.10 rupees earlier in the day

Mulard ducks are pictured at a poultry farm as France continues a massive cull of ducks. (REUTERS)Premium
Mulard ducks are pictured at a poultry farm as France continues a massive cull of ducks. (REUTERS)

Shares of India's biggest poultry producer -- Venky's -- dropped more than 4% on Thursday the lowest level in two months after an outbreak of avian influenza or bird flu was reported in four states.

The bird flu scare has already hit small shopkeepers and may impact the supply of bigger businesses like Venky’s.

Also Read | The faces behind the farmer revolt

Venky's shares fell for the fourth straight day on Thursday and were trading at 1,515.95, down 2.85%, after hitting a low of 1495.10 rupees earlier in the day.

Avian influenza, also known as bird flu, was reported so far in four states -- Madhya Pradesh, Rajasthan, Himachal Pradesh and Kerala -- the federal government said in a statement.

The Centre has issued advisories to curtail the spread of the infection in poultry ducks, chickens, crows and migratory birds.

However, the Department of Animal Husbandry has assured that no human case of avian influenza has been reported so far. The Ministry of Health and Family Welfare has deployed multi-disciplinary teams to avian influenza affected Alappuzha and Kottayam Districts in Kerala and Panchkula district in Haryana.

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.

On Wednesday, the Madhya Pradesh government decided to authorise district magistrates to impose a temporary ban on trading with poultry firms based in South Indian states if the need arises.

Indian soybean futures fell more than 1% on Thursday on fears demand for soymeal from the poultry industry could falter due to the bird flu outbreak.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 07 Jan 2021, 01:01 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App