Parag Milk Foods soars on tie-up with ColoPlus AB

Parag Milk Foods has collaborated with ColoPlus AB, a Swedish research organization to launch its first 100 per cent natural immunity booster called GO Colo Power in India.

This strategic collaboration enables Parag Milk Foods to strengthen its offerings in the health & nutrition segment, which further reiterates its leadership in the value-added products category.

Colostrum is the first, pre-milk fluid of the cow after the calf is born and considered to be a good source of many vitamins and minerals.

The promoters holding in the company stood at 48.71 per cent, while Institutions and Non-Institutions held 28.43 and 22.86 per cent, respectively.

Currently, the company is involved in the business of manufacturing dairy products and has been focusing on adding high-margin value-added products such as whey-protein sports nutrition brand Avvataar to its portfolio.

The collaboration news has made the stock surge by 3.55 per cent on Friday's trading session with a previous close of Rs. 300.30 per share and on 2:54 pm, the stock was quoting at Rs. 311 per share.