Few Gainers In The Basket

Companies manufacturing agrofeed have seen their shares mostly fall in the last three months. Some big pharmaceutical multinationals are also in the argovet business.

Stocks which have seen positive movement included Gujarat Ambuja Exports which appreciated 1.54 per cent and ended the day today at Rs 9.85 against its close of 9.70 at the beginning of November.

KSE Ltd ended the day at Rs 47.80 up 5.63 per cent from its close of Rs 45.25 from the beginning of November. Glaxo rose by nearly 5 per cent today from its close yesterday of Rs 300.35 to end the day at Rs 314.95.

Stocks that have seen negative movement were dominated by pharma stocks. Bayer (India) has fallen by over 11 per cent from the beginning of November to end the day at Rs 1095 while Pfizer, which has also fallen over 11 per cent ended the day at Rs 342.70.

GlaxoSmithKline which ended the day today at Rs 314.95 lost 2.11per cent from its close of Rs 321.75 at the beginning of November.

Many co-operatives and several unlisted companies were major players in the cattle feed and protein business, Godrej Agrovet being one. The company has entered into animal feed business in 1971 with one manufacturing unit in Mumbai. Currently it has the largest presence in the country with six manufacturing and 20 processing units.

This business accounts for 75 per cent of turnover of GAVL. Each unit functions as independent SBU.

Godrej Agrovet has recently acquired Goldmohar Foods & Feeds Limited (GFFL), a subsidiary of HLL. GAVL sells animal feeds under the brand names of Bypro, Hpmr, Milk More, Crumbro etc. After the acquisition of GFFL, Godrej Agrovet has become the largest manufacturer of feed in the country.