Godrej Agrovet surges on signing definitive agreement to acquire Tyson’s stake in Godrej Tyson Foods
Godrej Agrovet is currently trading at Rs. 823.65, up by 6.45 points or 0.79% from its previous closing of Rs. 817.20 on the BSE.
The scrip opened at Rs. 832.90 and has touched a high and low of Rs. 843.65 and Rs. 813.45 respectively. So far 31448 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 877.85 on 15-Jul-2024 and a 52 week low of Rs. 447.00 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 868.00 and Rs. 811.75 respectively. The current market cap of the company is Rs. 15871.12 crore.
The promoters holding in the company stood at 74.03%, while Institutions and Non-Institutions held 13.83% and 12.14% respectively.
Godrej Agrovet (GAVL) has signed a definitive agreement with Tyson India Holdings, an affiliate of Tyson Foods, Inc. to buy it’s 49 per cent stake in Godrej Tyson Foods (GTFL), a subsidiary of GAVL. Following the completion of the transaction, GAVL will now hold 100 per cent stake in GTFL thereby further consolidating its business.
In 2008, GAVL had entered into a joint venture with an affiliate of Tyson Foods, Inc. to manufacture and market processed poultry and vegetarian products. Selling products under its brands 'Real Good Chicken' and 'Yummiez', GTFL is also engaged in the sale of live poultry birds in the market.
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.
