The agreement provides for the bank to extend over Rs 58 crore (Rs 580 million) in loans, initially, to dairy farmers identified by Hatsun Agro.
As milk prices rise, analysts have an optimistic view on dairy stocks such as Heritage Foods and Dodla Dairy, hoping the companies' margins will grow in the near to medium term. From a long-term perspective, they believe that a growing population, increasing disposable income and health consciousness will strengthen dairy consumption in India.
On January 17, when the government decided to allow state-owned oil companies to sell diesel at market price to bulk consumers, companies in the alternative energy space saw the opening of an opportunity.
India, the world's biggest milk producer, hopes to seize on a New Zealand dairy product contamination scare to increase its exports and add market share in China and other emerging Asian countries.
Parag Milk Foods, Prabhat Dairy, Hatsun Agro are sharpening their gaze on the retail space and buttering up their customers.
Nearly 40% of the annual sales happen during April to June.
Half of the nation's 100 richest saw gains rising a collective 14% to $517.5 billion, says Forbes. Forbes released 2020's top 100 richest Indians on Thursday, which included newcomers, Sanjeev Bikhchandani, co-founder of Info Edge (India), who owns popular job and property websites; siblings Nithin and Nikhil Kamath, co-founders of discount stock brokerage Zerodha Broking, and three specialty chemicals producers - Vinod Saraf, founder of Vinati Organics, Arun Bharat Ram, the patriarch of SRF, and brothers Chandrakant and Rajendra Gogri of Aarti Industries. Other newcomers included Delhi-based brothers Ramesh Kumar and Mukand Lal Dua of Relaxo Footwears, which owns affordable footwear brands; dairyman, R G Chandramogan of Hatsun Agro; Premchand Godha, who chairs IPCA Laboratories, manufacturing formulations, bulk drugs and drug intermediates; G Rajendran, founder of jewellery chain, GRT Jewellers.
By official estimates, the country has a surplus of 300,000 tonnes of milk powder, which has led to dairies and other bulk buyers cutting liquid milk purchase thus affecting its price.
Some players have already raised prices; others in wait-and-watch mode.
Side indices raced ahead with BSE Midcap and BSE Smallcap advancing 0.4% and 0.3% up, respectively.
Institutional investors led by foreign portfolio investors have bought these shares.
Amul, Gowardhan raise prices by Rs 2 a litre; others might wait for some time.
The Rs 1-trillion organised dairy market is dominated by co-operatives in almost every state.
'When Pinnacle Trust bought the stake of Supreme Energy, it included a liability of Rs 640 million. The purchase was at a fair market value (prevailing price) of Rs 8.80 per share,' Deepak Kochhar said in a telephonic conversation with Business Standard.
Nifty, which has struggled around 8550-8560 levels managed to blast past this resistance and close above the psychological mark of 8600.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Markets end higher ahead of Fed outcome, China stimulus
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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