Venky's rises amid reports Malaysia allows importing eggs from India

eClerx Services

16/12/2022 06:09

** Shares of poultry firm Venky's India  VENK.NS  rise over
3.6% during the session
    ** The rise comes after media reports in Malaysia say the
country has allowed entry of chicken eggs from India to
accommodate the lack of supply in the country
    ** Thomson Reuters, seeking confirmation of the reports and
the magnitude of the imports, is awaiting response from
Malaysia's Ministry of Agriculture and Food Security 
    ** Thomson Reuters is also awaiting response from Venky's
India on the potential benefits for the company from Malaysian
markets
    ** Shares of Venky's India went up 12.7% on Dec. 8, a day
after Malaysia announced that it will temporarily import chicken
eggs as a stop-gap measure
    ** The Moving Average Convergence Divergence (MACD) line is
trading above the signal line, indicating a bullish bias for the
stock
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))