Venky's India shares hit 2-month low to confirm bird flu in 4 states

Venky's India shares hit the 2-month low to confirm bird flu in 4 states

 Venky's India shares hit the 2-month low to confirm bird flu in 4 states


Avian influenza, also known as bird flu, was reported in the states of Madhya Pradesh, Rajasthan, Himachal Pradesh, and Kerala, the federal government said in a statement.

Shares of India's largest poultry producer Venky fell more than 4% to reach a 4-month low of 1494.7 on Thursday amid concerns over bird flu.  This comes after confirmation of bird flu or avian influenza outbreaks in Rajasthan, Himachal Pradesh, Madhya Pradesh, and Kerala.  Venky's shares fell as much as 5% on Wednesday.

Kerala has started raising chickens and ducks to protect it from the virus, while Madhya Pradesh has banned the import of poultry products from Kerala for 10 days.

Indian soybean futures fell more than 1% on Thursday due to soybean fears from the poultry industry due to an outbreak of bird flu.

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