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Prabhat Dairy surges on completing sale of stake in SAIPL

Prabhat Dairy is currently trading at Rs. 82.05, up by 3.90 points or 4.99% from its previous closing of Rs. 78.15 on the BSE.

The scrip opened at Rs. 79.80 and has touched a high and low of Rs. 82.05 and Rs. 79.75 respectively. So far 15971 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 190.00 on 18-Apr-2018 and a 52 week low of Rs. 47.15 on 06-Feb-2019.

Last one week high and low of the scrip stood at Rs. 82.05 and Rs. 74.50 respectively. The current market cap of the company is Rs. 801.43 crore.

The promoters holding in the company stood at 50.10%, while Institutions and Non-Institutions held 11.88% and 38.02% respectively.

Prabhat Dairy has completed sale of the company’s shareholding in its wholly owned step down subsidiary — Sunfresh Agro industries (SAIPL) to Tirumala Milk Products. Further, the company has sold and transferred its dairy products business by way of slump sale on a going concern basis to SAIPL post completion of transfer of SAIPL shares is successfully completed and closed on April 10, 2019.

Prabhat Dairy produces milk and milk products in India. It processes and offers skimmed milk powder, whole milk powder, sweetened condensed milk, concentrated milk, cow ghee, dairy whitener, and pasteurized milk in poly pouches.

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