Hester Bio hits the 10% UC
Hester Biosciences is an animal biological & health care company. It announced the launch of its PPR (Peste Des Petits Ruminants) vaccine and Goat Pox vaccine. With the launch of these vaccines as well as being the second largest poultry vaccine manufacturer in India, Hester has positioned itself to capitalise on upcoming opportunities in the animal health care industry globally as well as in India.
The world market for PPR vaccine is slated to be for Rs.300 crore annually. The Indian market is slated to be Rs.40 crore annually. The PPR vaccine will contribute toward also the disease eradication programs of the Govt. Government of India.
Hester is also the first company in India to manufacture the Goat Pox vaccine. This vaccine is to be given annually to goats. Goat Pox disease causes death in Goats. The total targeted population of goats for Goat Pox vaccine in the world is 97 crores, with 50% of that population being in Asia. In India, the targeted population is 14 crore. The world market for Goat Pox vaccine is slated to be for Rs.500 crore annually. The Indian market is slated to be Rs.70 crores annually.
The market is obviously enthused with this news and the stock hit the 10% upper circuit at Rs.485.20. Last week, on 12th March, the stock was listed on the NSE and that day, it hit a new high at Rs.515.