Shares of India’s greatest poultry producer Venky’s dropped greater than 4% on Thursday to their lowest stage in two months after an outbreak of avian influenza was reported in 4 states.
Venky’s shares fell for the fourth straight day on Thursday and had been buying and selling at 1,515.95 rupees, down 2.85%, after hitting a low of 1495.10 rupees earlier within the day.
Avian influenza, also called hen flu, was reported within the states of Madhya Pradesh, Rajasthan, Himachal Pradesh and Kerala, the federal authorities stated in an announcement.
Kerala has began culling chickens and geese to comprise the virus, whereas Madhya Pradesh has banned imports of poultry merchandise from Kerala for 10 days.
Indian soybean futures fell greater than 1% on Thursday on fears demand for soymeal from the poultry business might falter as a result of hen flu outbreak.
