Indian dairy cos up on Maharashtra govt's subsidy offer

Heritage Foods

21/12/2023 04:55

** Shares of Hatsun Agro Product  HAPL.NS , Heritage Foods
 HEFI.NS  and Parag Milk Foods  PAMF.NS  up between 1% and 5.5%
    ** Maharashtra government has announced a subsidy of 5
rupees ($0.0601)/litre for milk farmers, local media reports
    ** Subsidy to be effective over next two months
    ** PAMF and HEFI have one plant each in Maharashtra, while
HAPL has two plants
    ** If gains hold, PAMF set to snap two consecutive sessions
of losses, while HEFI to rise for fourth straight session
    ** As of YTD, HAPL up ~25%, HEFI has risen 41% and PAMF
climbed over 114%
    
($1 = 83.2240 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))