Should investors milk the profit in Heritage Foods now?
Heritage Foods (CMP: Rs. 626, Market Capitalisation: Rs. 5,814 crores, Under-weight), a leading dairy company with a diversified product portfolio that includes milk and milk-based products, posted a healthy revenue growth of 16 percent year on year (YoY) in the fourth quarter. This was primarily aided by a 20 percent increase in the volume of value-added…
Fate of dairy farms in limbo as Delhi High court weighs health concerns
The future of hundreds of dairy farms in Ghazipur and Bhalswa, where two of the city’s three landfill sites are located, hangs in the balance with the Delhi High Court scrutinising their compliance with legal and environmental standards. Late last month, the court had remarked that there was a need to shift Ghazipur and Bhalswa…
GST Council Recommends a Uniform Rate of 12% on all Milk Cans Meaning Steel, Iron, Aluminium
The 53rd GST council has recommended uniform rate of 12% on all meaning steel, iron, aluminum which are irrespective of the use. The Finance Minister Nirmala Sitharaman presided over the 53rd meeting of the GST Council today (22nd June 2024) at New Delhi with Revenue Secretary and CBIC Chairman. M Sitharaman said, “Council recommended to…
New laboratories will be established in four cooperative milk unions, says Mano Thangaraj
New laboratories will be established in four newly created district cooperative milk unions under the National Programme for Dairy Development (NPDD) to ensure the supply of quality milk products from farmers, announced Milk and Dairy Development Minister Mano Thangaraj, at the Tamil Nadu Assembly on Saturday. The labs would be set up in Cuddalore, Tiruvannamalai,…
How the Plant-Based Products Market Is Winning Investors’ Favor
The plant-based ingredients sector is undergoing a transformative evolution, driven by a significant shift in consumer preferences and innovative advancements within the industry. Historically overlooked by investors who perceived it as a mere commodity sector, the burgeoning plant-based ingredients market is now being recognized for its immense potential for value-added expansion and wealth generation. According…
EnNutrica IPO begins bidding today: Check GMP, price band, lot size
The milk products manufacturer EnNutrica’s initial public offering (IPO) opens for subscription today, June 20, 2024. The primary issue aims to raise Rs 34.83 crores comprising entirely a fresh issue of 6.45 million shares. EnNutrica secured Rs 9.90 crore from anchor investors on June 19. The anchor investor list includes Next Orbit Ventures Fund, Nova…
Retail inflation easing, food prices remain a concern: RBI
Retail inflation is gradually easing but the path has been interrupted by volatile and elevated food inflation, which may cause it to reverse after a temporary fall below the target during the second quarter of 2024-25, a RBI bulletin said on Wednesday. The central bank has consistently cautioned about the volatile food prices, particularly of vegetables and some cereals, which…
Amul’s entry won’t impact Aavin-Mano Thangaraj
Amul’s entry into the city and northern Tamil Nadu will not impact Aavin’s sales, said Mano Thangaraj, TN dairy development minister. He said Aavin is open to market expansion just as Amul is entering new areas. At a press conference on Wednesday, Thangaraj said that while Amul is expanding its presence in the United States, Aavin has the potential to expand…
PM Modi addresses Kisan Samman Sammelan in Varanasi, Uttar Pradesh
The Prime Minister, Shri Narendra Modi addressed the Kisan Samman Sammelan in Varanasi, Uttar Pradesh today and released the 17th instalment of Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) through Direct Benefit Transfer amounting to more than Rs 20,000 crores to around 9.26 crore beneficiary farmers. During the program, he also granted certificates to more than…
India set to capitalise on Western dairy decline with annual expansion of 10pc
India will expand its milk production by 10pc annually as developed countries look at reducing their herds, the head of one of India’s largest milk-processing facilities has said. “If other countries have issues with their cattle and milk production, it’s good for us — markets open for us,” head of Dudhmansagar Dairy Prateek Kumar Mudgal…