Hester Biosciences jumps on acquiring technology from ICAR-NIHSAD
Today, the stock opened at Rs 1844.00 and has touched a high and low of Rs 1851.10 and Rs 1781.65 respectively.
On Wednesday, shares of Hester Biosciences closed at Rs 1852.90, up by 49.10 points or 2.72% from its previous closing of Rs 1803.80 on the BSE.
Hester Biosciences has signed an agreement with the Indian Council of Agricultural Research - National Institute of High Security Animal Diseases (ICAR- NIHSAD) to receive indigenously developed technology for the development and commercialization of the Low Pathogenic Avian Influenza (H9N2 strain) Inactivated Vaccine for poultry. The agreement was signed on December 27, 2022, at Agrinnovate India's office in New Delhi. Agrinnovate is a government entity that acts as a liaison between ICAR and agricultural stakeholders, including technology transfers for vaccine manufacturing in the veterinary sector.
In addition to supplying the vaccine within India, Hester intends to export it to African and Asian countries via Hester's own distribution network, where there is already a demand for this vaccine. The vast poultry population in India is an important source of income for rural India. Despite periodic outbreaks across the country, India had no vaccine for Avian Influenza until now. Because of these factors, this vaccine has a high commercial potential.
Hester Biosciences Ltd is one of the leading animal health care companies & the second largest poultry vaccine manufacturer in India. Founded by Rajiv Gandhi in 1987, it has now a presence in over 30 countries & has a key market in India, Nepal & Tanzania. The promoters holding in the company stood at 53.73%, while institutions and non-institutions held 0.65% and 45.61% respectively.
The BSE group 'B' stock of face value Rs 10 has touched a 52-week high and low of Rs 2851.75 and Rs 1771.20, respectively.
Last one week high and low of the scrip stood at Rs 1999.00 and Rs 1771.20 respectively. The current market cap of the company is Rs 1,576.24 crore.
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