Godrej Agrovet moves up on partnering with SBI to launch finance offering for Indian Oil Palm farmers
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Godrej Agrovet is currently trading at Rs. 425.25, up by 2.90 points or 0.69% from its previous closing of Rs. 422.35 on the BSE.
The scrip opened at Rs. 424.30 and has touched a high and low of Rs. 425.25 and Rs. 424.10 respectively. So far 39 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 560.00 on 13-Sep-2022 and a 52 week low of Rs. 391.20 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 429.70 and Rs. 421.00 respectively. The current market cap of the company is Rs. 8151.50 crore.
The promoters holding in the company stood at 74.07%, while Institutions and Non-Institutions held 14.71% and 11.22% respectively.
Godrej Agrovet’s Oil Palm Business is launching first-of-its-kind finance offering for oil palm farmers in partnership with the State Bank of India (SBI). A product jointly developed by the Company and country’s leading public sector bank will enable farmers avail loan for setting up micro irrigation facility, set up fencing arrangement to protect from cattle grazing and improvement of tube well at their oil palm farms.
Introduced with an objective of aiding oil palm growth by improving Fresh Fruit Bunches (FFB) productivity, it will act as a catalyst to maintain juvenile gardens during the gestation period of first 5 years. Launched initially for the oil palm farmers of Telangana state, Godrej Agrovet farmers from the states of Tamil Nadu, Odisha, Assam, Manipur and Tripura can now easily avail loan with the ticket-size of Rs 1 lakh to Rs 50 crore.
Godrej Agrovet is a diversified, research and development focused agribusiness company with operations across five business verticals i.e. animal feed, crop protection, oil palm, dairy, and poultry and processed foods.
