Dodla Dairy gains on getting nod to purchase Plant & Machinery up to Rs 55 crore
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Dodla Dairy is currently trading at Rs. 427.95, up by 7.65 points or 1.82% from its previous closing of Rs. 420.30 on the BSE.
The scrip opened at Rs. 421.00 and has touched a high and low of Rs. 434.55 and Rs. 421.00 respectively. So far 735 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 672.00 on 11-Nov-2021 and a 52 week low of Rs. 385.00 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 448.00 and Rs. 410.05 respectively. The current market cap of the company is Rs. 2550.16 crore.
The promoters holding in the company stood at 62.54%, while Institutions and Non-Institutions held 21.44% and 16.03% respectively.
Dodla Dairy has received approval from board of directors for purchase of Asset/business/Plant & Machinery up to Rs 55 crore. The board has also approved funding for wholly owned subsidiary to provide loan/ Guarantee/investment in equity or any other funding as may be required to Orgafeed up to Rs 40 crore in aggregate on such terms and conditions as may be agreed between the Company and the subsidiary.
Further, the board has reviewed and approved funding for Stepdown subsidiary to provide loan/ Guarantee/investment in equity or any other funding as may be required to Dodla Dairy Kenya, up to Rs 40 crore in aggregate on such terms and conditions as may be agreed between the Company and the subsidiary.
Dodla Dairy is involved in is procuring, processing and Marketing of Milk and Milk Products. The company has created integrated Cold Chain facilities from producer to consumer to ensure Farm Fresh Milk at their door steps.
