Parag Milk Foods up 7% on launching a new product in its premium category

The profit margins of dairy companies are expected to increase in the September quarter after a sharp contraction in the March and June quarters.

Shares of Parag Milk Foods rallied as much as 7 per cent to Rs 111.70 apiece on the BSE on Friday after the company introduced a new product to its premium category. 

At 01:15 PM, the stock was trading over 3 per cent higher at Rs 107.50 on the BSE. The stock had hit a 52-week high of Rs 177 on the BSE on September 24, 2019, while its 52-week low level stands at Rs 48.50, hit on March 19, 2020. 

Parag Milk Foods, which runs brands such as ‘Gowardhan’, ‘Go’, ‘Pride of Cows’ (POC), ‘Avvatar’ today launched Pride of Cows Curd,