Mukka Proteins share price: How the stock is performing a week after listing
Upstox
2 min read • Updated: March 15, 2024, 1:05 PM
Summary
Mukka Proteins, which debuted at ₹40 on the NSE last week, was trading at ₹35.55 on Friday, March 15 as of 12:55 pm. The current market capitalisation of the company stands at ₹1,066.50 crore.
Shares of Mukka Proteins have slumped more than 10% since its listing on the NSE. The Mangaluru-based company had debuted on the NSE at ₹40, a premium of 42% against the IPO price of ₹28 per equity share.
The stock was at ₹35.55, down 2.34%, on March 15. The current market capitalisation of the company stands at ₹1,066.50 crore.
Similarly, Mukka Proteins has fallen 20.2% on the BSE since its debut. The stock had listed at ₹44 per share last week and was trading at ₹35 on Friday at 12:55 pm.
About Mukka Proteins
- Mukka Proteins produces fish meal, fish oil and fish-soluble paste.
- It also produces alternative protein sources such as black soldier fly insect meal for use in animal food.
- It has four manufacturing facilities in India and two in Oman.
- The animal feed manufacturer exports its products to 11 countries, viz. Saudi Arabia, Bahrain, Chile, Bangladesh, Malaysia, China, Philippines, Myanmar, Taiwan, Indonesia and Vietnam.
According to the company's IPO prospectus, it witnessed a CAGR growth of 24% in its revenue from operations and 62% in its profit between FY21 and FY23. The Indian market for fish meal and fish oil is expected to grow at a CAGR of 5% to 9% between FY22 and FY26, which could potentially benefit the company.