Wednesday, January 23, 2019

Prabhat Dairy Ltd: Latest Update

PRABHAT closes at 78.9 on 22.01.2019 with a fall of -15% on the news of stake selling. As per latest media report: “Lactalis, a French dairy products corporation, has entered into a definitive agreement to acquire Mumbai­based Prabhat Dairy’smilk processing business for about₹1,700 crore. The French group willbe making the acquisition throughits wholly­owned Indian subsidi­ary, Tirumala Milk Products, by 
Wayof a slump sale.Prabhat Dairy will also sell its en­tire stake in Sunfresh Agro Indus­tries, a step­down subsidiary,through a share purchase agree­ment, the company said in a statement “
Prabhat Dairy intends to further develop its cattle feed business and expand into allied businesses
such as animal nutrition and animal genetics. Earlier on January 8, Prabha t dairy had signed a joint develop­ment agreement Denmark­basedith Dansk Landbrugs Grovvare­elskab (officially DLG Group) as part of its plans to foray into an­mal nutrition business. This inludes cattle feed, nutrition supplements and animal genetics. 

 If the above words stand true, It’s a good bet for Long Term Investor. Prabhat Dairy Ltd is now Trading at  x1.3 of its EPV.  We find its valuations around 58 for Entry with 2-3 years holding period.

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