Venky’s gets wings, shoemaker stocks shine but for Adani, it’s another bad day

Shares of Venky’s jumped 4 per cent on Wednesday, adding to the 45 per cent gains in the month till Tuesday, as investors approved of the company’s pivot towards becoming a ‘protein company’ instead of a ‘poultry company’.

The stock zoomed to its highest level in three years during the day with the management suggesting that record production of soya and maize will boost its own fortunes in the coming months. That said, if the stock has to sustain its strong run, us consumers will have to continue paying sky high prices for our morning omelets.

While the poultry producer was flying, shoemakers were running on Dalal Street.

Footwear stocks shine
Shares of footwear companies had a stellar day, except if you are called Bata India. Khadim India, Relaxo Footwears and

saw their stocks soar 7-20 per cent in the session on burgeoning hopes that the sector can finally have a good run as rising vaccination rate and unlocking of the economy post the second wave bring back consumer demand. While grey clouds of a third wave still hover over the horizon, analysts expressed comfort as they are counting on the surge in vaccination to help minimize damage as and when the third wave comes knocking.

Adani stocks tumble again
Oh how the Adani group’s shareholders miss the good old days of Spring 2021! The reprieve from selling seen last week lasted barely two days for Adani group’s stocks. Shares of the Group’s companies, barring Adani Green Energy and Adani Power, fell sharply today as the Group was hit by another bad news. KLP Fund, a pension based in Norway, said that it will be divesting from

on concerns over the company’s links with the Myanmar military, which recently overthrew a democratically elected government to establish military rule. With the Group already mired in controversy over three foreign shareholders, the last thing it wants is international scrutiny over its projects.