Dairy stocks surge as Govt approves Dairy Processing & Infrastructure Dev. Fund

Shares of diary sector such as Prabhat Dairy, Parag Milk Foods, Umang Dairies hogged limelight in early trade Wednesday after the Union Cabinet, chaired by PM Narendra Modi, approves the implementation ‘Dairy Processing & Infrastructure Development Fund’ (DIDF). The fund is with an outlay of Rs 10,881 crore for the period 2017-18 to 2028-29 to boost the dairy segment.

The new fund to be managed by the National Dairy Dev Board (NDDB) and the National Dairy Dev Cooperation (NCDC) will be used to give loan for building an efficient milk procurement system and other processing infrastructure. State dairy federations, multi-state milk cooperatives, milk unions, milk producer companies and NDDB subsidiaries can avail of the loan with their eligibility criteria.

The move would advantage 95 lakh farmers and help generate extra milk processing capacity of 124 lakh litres a day and value added products of manufacturing capacity of 59.78 lakh litre per day.

Meanwhile, the stock of the Prabhat Dairy was trading up by 1.4 percent intraday at Rs 133.90 per share. Stocks of the Parag Milk Foods trading higher by 0.60 percent at Rs 252 per share and the stocks of Umang Dairies was trading up by 0.56 percent at Rs 71 per share on BSE at post morning hours.

Top Stocks for Tomorrow Trading By Technical Analyst ( 12 Sep 2017 )

Research Head (MONEY MAKER RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one can go long in PANACEA BIOTECH.

“PANACEA BIOTECH is looking bullish on Daily Charts & Bullish crossover in MACD and strong reading at ADX shows strong trend, therefore I recommend traders to go long around 266 with a price target of around 276 & Stop loss should be placed below 251”

The company has product portfolio that caters therapeutics areas like pain management, diabetes and cardiovascular management, renal disease management, osteoporosis management, anti-tubercular, gastro-intestinal. Panacea Biotec is the third largest biotechnology company (as per ABLE Survey, 2006), as well as among the top 50 pharmaceutical companies (as per ORG IMS July 2006) of India. The company has been granted patents across countries like USA, U.K., France, Germany, Italy, Sweden, Denmark, Spain, Finland, Switzerland, The Netherlands, New Zealand, Mexico, Brazil, Nigeria, Zimbabwe, Australia, South Africa, Japan, Russia, Canada, Ukraine, Korea and China are among others.

The company expanded its existing collaboration with Apotex Inc, the largest Canadian-owned pharmaceutical company, for sales & distribution of Prasugrel 5mg and 10mg tablets in the USA.

It has signed an exclusive license and supply agreement with Apotex for this purpose.

Stock has been gaining for the last 3 days and has risen 29.05% in the period

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Key indices were hovering in positive territory after hitting fresh intraday high in early trade. The BSE Sensex was trading at 32,050 up 168 points, while Nifty hit at 10,052 up 46 points.

Stocks of Future Consumer lost 1.12% to Rs 66.10 late morning hours on BSE, with the stock sliding on profit booking after recent strong rally. The stock had hit a high and low of Rs 67.95 and Rs 63.70, respectively during the day. 

L&T hits 52-week high after winning order, Stocks of L&T rose 0.42% to Rs 1,222 on BSE after the company said that its construction division won orders of Rs 2525 crore. The stock had hit a high of Rs 1231.95 and a low of Rs 1,219 so far during the day.

Stocks of Strides Shasun Ltd is trading higher Rs. 27.30, at Rs. 968.60 on BSE after the company announced it has obtained approval from the US Food & Drug Administration for its Potassium Citrate extended-release tablets for treatment of certain types of kidney stones.

Stocks of Godrej Industries Ltd rose 3.2%, Godrej Properties Ltd surged 5%, Godrej Consumer Products Ltd rose 1.3%. Godrej Agrovet unit of Godrej Industries Limited received approval from Sebi to raise Rs 1200 crore via IPO.