Hester Bio 'lumpy' day!
Hester Biosciences, an animal and poultry vaccines manufacturing company with plants situated in Gujarat and Nepal, with a 30% share of the poultry vaccines market in India, is among the top five gainers on the BSE since the opening bell today.
The stock, which had closed yesterday at Rs.1966.50, opened today at a new 52-week low at Rs.1930 and soon jumped up to Rs.2205 to got into the top five gainers. Volumes are up 10x.
The company announced that it has managed to address the outbreak of the Lumpy Skin Disease impacting cattle in India. It has done by immunizing cattle against the disease with the Goat Pox Vaccine.
Hester acquired the technology for manufacturing the Goat Pox vaccine (Uttarkashi Strain) from Indian Veterinary Research Institute (IVRI) and commercialized the vaccine on 10 November 2014. Hester currently has been supplying the Goat Pox Vaccine via respective state government tenders to immunize cattle against Lumpy Skin disease in the respective states.
Hester has also bid for the National Tender for supplying Goat Pox Vaccine for immunizing cattle against Lumpy Skin Disease.
Currently, Hester has been able to meet the complete demand raised on it for the supply of the Goat Pox vaccine in the country.
The company, to meet this surge in demand for the vaccine and the vaccines against poultry, sheep, goat and cattle, Hester is undergoing capacity expansion. This capacity expansion would be completed in January 2023.
Further, ICAR-IVRI have jointly developed a Lumpy Skin Disease vaccine. As soon as the technology is made available, Hester will acquire the same and manufacture and commercialize the Lumpy Skin disease Vaccine.