Volume Shocker: Venky's (India)

A combined 706,660 shares, representing 7.5% of total equity have changed hands on the counter so far

Venky’s (India) has soared over 19% at Rs 446 on back of heavy volumes. As many as a combined 706,660 shares, representing 7.5% of total equity have already changed hands on the counter so far, against an average sub 165,000 shares that were traded daily in past two weeks on the BSE and NSE.

The processed chicken maker has reported 17% year-on-year (y-o-y) growth in net profit at Rs 18 crore for the fourth quarter ended March 2012. Net sales grew 23% at Rs 258 crore on y-o-y basis. On a sequential basis, Venky's net profit was up six-fold, while net sales were up 7%.

The board of directors of the company has recommended a dividend of Rs 5/- per equity share (50%) for the year ended March 31, 2012