Godrej Agrovet hits highest level since listing

The stock rallied 10% to Rs 667 on the BSE in early morning trade, was up 45% against issue price of Rs 460 per share

Godrej Agrovet  rallied 10% to Rs 667 on the BSE in early morning trade in otherwise subdued market on back of heavy volumes.

The stock of Godrej Group Company was up 45% against issue price of Rs 460 per share hit its highest level since listing on October 16, 2017. It made a strong debut by gaining 30% to close at Rs 596 on debut day.

After listing, till February 2, 2018, before announcing December quarter (Q3FY18) results, it underperformed the marking by falling 6% against 5% rise in the S&P BSE Sensex. Post Q3FY18 earnings, the stock