This stock rose 40% in a week, hit 52-week high today

Share of Venky's (India) rose nearly 9 per cent to hit a 52-week high of Rs 2,297.20 on BSE in today's intraday trading session.

The stock has gained 112 per cent in one year and risen 28 per cent since the beginning of this year. Venky's share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200 day moving averages.

As per the share price history, Venky's share at BSE closed at Rs 1639.55 on May 7, 2021. It hit an intraday high of Rs 2,297.20 in today's morning session. In a week, the stock has delivered nearly 40 per cent returns. On NSE, the share hit a fresh 52-week high of Rs 2,299.00. It opened 6 per cent higher at Rs 2,214.40 against the previous close of Rs 2,090.55.

The company reported a net profit of Rs 77.90 crore for the quarter ended March 31 compared with a net loss of Rs 96.73 crore in Q4 FY20. Revenue from operations rose 42.44 per cent to Rs 941.35 crore for the quarter ended March 2021 compared to Rs 660.86 crore in the year-ago period.

For the financial year ended March 31, 2021, the combined sales turnover of non-volatile or less volatile manufacturing activities was approx. Rs. 2,000 crore i.e. 67 per cent of the total sales turnover of the company. The remaining 33 per cent of sales i.e. Rs. 1,116 crore came from the sale of broiler day old chicks, layer day-old chicks, broiler hatching eggs, and grown up broiler birds.

"During the quarter, the poultry and poultry products segment witnessed better realizations from the sale of day-old chicks and grown-up broilers. Maize prices have been steady throughout the quarter and the outlook appears to be stable. Soya de-oiled cake prices have hit an all-time high, thereby increased the input costs. Animal Health Products segment registered improved performance. Oilseed segment performance has been good, registering improved sales and profits," the company said.

The company further added that the improved financial performance seen in the 9 months ended December 31, 2020, further continued in the quarter ended March 31, 2021, as well, even after the company witnessed some negative impact in January 2021 due to outbreak of bird flu.

In January, stocks of poultry companies Venky's (India) and Simran Farms fell sharply after reports of bird flu emerged from four states-Kerala, Rajasthan, Himachal Pradesh, and Madhya Pradesh.

Venky's is the prominent supplier to many QSR's and International chains like Kentucky Fried Chicken (KFC), Pizza Hut, Tacobell, TGI Friday, Brinkers, Vista Foods, Burger King, McDonald's, etc. It has 3 soya processing plants. All the 3 plants are located in the State of Maharashtra (Solapur, Nanded, and Srirampur).