Bird flu effect: Venky's (India), Simran Farms shares fall up to 5% in early trade

Stocks of poultry companies Venky's (India) and Simran Farms fell up to 5% in early trade today after reports of bird flu emerged from four states-Kerala, Rajasthan, Himachal Pradesh, and Madhya Pradesh. Share of Simran Farms opened 4.95% lower at Rs 55.7 and was stuck in lower circuit of 5% in afternoon session. The share saw only sellers and no buyers. The stock has lost 19.62% in the last 5 days.

Market cap of the firm fell to Rs 21 crore on BSE. The share trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages. The stock has gained 39% in one year and fallen 19.62% since the beginning of this year.

Similarly, share of another poultry firm Venky's (India) touched an intraday low of Rs 1494.7 , falling 4.12% against previous close.

The stock has lost 13.28% in the last 4 days. The share trades higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages.

In one year, the share has lost 10.12% and fallen 11.8% since the beginning of this year.

Bird flu scare grips India amid the ongoing coronavirus situation

Apart from the outbreak in four states, Haryana is on high alert due to abnormal deaths at a poultry farm in Panchkula. According to the PIB release, a total of 4,30,267 birds have died in Barwala, Panchkula in past 25 days in Haryana.

Other states like, Tamil Nadu, Karnataka and Maharashtra have asked all their districts to be on high alert and to take preventive measures. The Union Ministry of Fisheries, Animal Husbandry, and Dairying have asked other states to keep a vigil on unusual mortality of birds.

Bird flu outbreak: Is it safe to eat eggs, chicken?

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