Parag Milk Foods zooms on launching fat-free Milk

Parag Milk Foods is currently trading at Rs. 139.25, up by 1.50 points or 1.09% from its previous closing of Rs. 137.75 on the BSE.

The scrip opened at Rs. 139.60 and has touched a high and low of Rs. 140.35 and Rs. 137.65 respectively. So far 73800 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 157.60 on 12-May-2021 and a 52 week low of Rs. 83.85 on 03-Aug-2020.

Last one week high and low of the scrip stood at Rs. 143.90 and Rs. 130.00 respectively. The current market cap of the company is Rs. 1322.86 crore.

The promoters holding in the company stood at 46.20%, while Institutions and Non-Institutions held 12.09% and 41.50% respectively.

Parag Milk Foods has forayed into the Fat-free milk variant under their premium milk brand Pride of Cows. The company plans on expanding their Bhagyalaxmi Dairy Farm, which supplies milk exclusively under ‘Pride of Cows’ brand, to more than 15,000 cows by 2026 and is therefore expanding the portfolio under this brand to create market for increased milk being produced. The Pride of cows Fat Free milk would be distributed across Mumbai, Pune, Surat and Delhi from June 28, 2021.

Parag Milk Foods, established in 1992, is the largest private dairy FMCG company with a pan India presence.