Shares of Godrej Agrovet surge on partnering with SBI to launch a finance offering for Indian Oil Palm farmers

Shares of Godrej Agrovet surge on partnering with SBI to launch a finance offering for Indian Oil Palm farmers

by 5paisa Research Team Last Updated: May 18, 2023 - 05:31 pm 816 Views
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The company is a diversified, Research & Development focused agri-business company, dedicated to improving the productivity of Indian farmers

About the Partnership 

In collaboration with the State Bank of India (SBI), Godrej Agrovet's Oil Palm Business is introducing a ground-breaking financing option for oil palm growers. Farmers will be able to get loans to build up micro irrigation facilities, fence arrangements to keep livestock from grazing and enhance tube wells at their oil palm estates thanks to a product jointly developed by the Company and the nation's top public sector bank.

Godrej Agrovet farmers from the states of Tamil Nadu, Odisha, Assam, Manipur, and Tripura can now readily get loans with the ticket-size of Rs 1 lakh to Rs 50 crore, which were previously launched for the oil palm farmers of Telangana state.

Share Price Movement of Godrej Agrovet Ltd 

The scrip opened today at Rs 424.30 and touched a high and low of Rs 429.70 and Rs 423.70, respectively. Its 52-week high stood at Rs 560, whereas its 52-week low was Rs 391.20. The current market cap of the company is Rs 8,151.46 crore. Promoters hold 74.06%, whereas the Institutional and non-institutional holdings are 14.71% and 11.23%, respectively.

Company profile 

Godrej Agrovet Limited is a diversified, R&D-focused agribusiness firm committed to enhancing Indian farmers' productivity via the development of new goods and services that sustainably raise crop and livestock yields. Through the development of innovative goods and services that sustainably raise agricultural and livestock yields, the company is committed to enhancing farmers' productivity.

Over the years, it has increased its R&D capacity by making large investments. The company has two specialised R&D centres in Thane and Mumbai for its crop protection division, which has allowed it to introduce innovative products. Its Andhra Pradesh-based specialised R&D centre for its oil palm company is working to increase the yield performance of the crop and find innovative ways to extract value from the biomass from the plant.

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