Prabhat Dairy jumps after Reliance MF buys stake

Prabhat Dairy rose 4.78% to Rs 122.70 at 11:04 IST on BSE after Reliance Mutual Fund bought 2.13% stake in the company through bulk deals on BSE and NSE yesterday, 5 October 2015.

Meanwhile, the BSE Sensex was up 102.40 points, or 0.38%, to 26,887.95

On BSE, so far 2.11 lakh shares were traded in the counter, compared with an average volume of 5.04 lakh shares in the past two weeks.

The stock hit a high of Rs 129.30 and a low of Rs 122.10 so far during the day.

Shares of Prabhat Dairy listed on the bourses on 21 September 2015. On that day, it settled at Rs 116.35 on BSE, a premium of 1.17% over the issue price of Rs 115.

On Monday, 5 October 2015, Reliance Mutual Fund bought 9.37 lakh shares of Prabhat Dairy at Rs 117 on the NSE and bought 11.50 lakh shares at Rs 117 on the BSE.

On consolidated basis, Prabhat Dairy's net profit rose 1.29% to Rs 21.05 crore on 16.81% growth in net sales to Rs 1000.77 crore in the year ended 31 March 2015 (FY 2015) over the year ended 31 March 2014 (FY 2014).

Promoted by Sarangdhar Ramchandra Nirmal, Vivek Sarangdhar Nirmal and Nirmal Family Trust, Prabhat Dairy is an integrated milk and dairy products company in India, catering to institutional as well as retail customers. The company produces and sells a range of pasteurized milk and other dairy products to retail customers under the Prabhat, Flava and Milk Magic brands.

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