MUMBAI: Shares of Kaveri Seed Co Ltd have gained 26% so far this week after the company maintained its healthy growth guidance for the current fiscal.
It expects 15-20% rise in revenue this fiscal, helped by 10-15% growth in its mainstay cotton hybrid seeds business and 20-25% growth in non-cotton seeds business revenues. "With predictions of a normal monsoon in FY21 along with steady crop realisations, Kaveri Seed Co’s FY21 growth outlook is reasonably robust (major advantage in these covid-19 challenged times) which adds to its attractiveness," brokerage firm IDFC Securities Ltd said in a note to its clients.
Cotton seeds business generates almost half of Kaveri Seed’s revenues. Last fiscal, cotton seed volumes grew 17%, generating
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