Stock market news: HMA agro shares gain traction despite broad market decline- Here's why

India.com

22-05-2025

Stock market news: Shares of smallcap company HMA Agro Industries were actively traded on Thursday, standing out amid a broader market downturn. Despite opening in the red at ₹33 — slightly below the previous close of ₹33.65 on the BSE — the stock rebounded during the session to hit an intraday high of ₹33.78. The company, a key player in the frozen meat export sector, currently holds a market capitalization of ₹1,663.06 crore. Board Meeting Announcement Sparks Investor Interest
The uptick in trading activity comes after the company notified exchanges about an upcoming board meeting scheduled for May 29, 2025. During this meeting, the board will consider and approve the financial results for the fourth quarter (January–March) and the full financial year 2024–25.
In addition to the quarterly results, the board is also expected to deliberate on other important business matters. According to the exchange filing, the agenda includes a proposal to avail Export Packing Credit (EPC) facilities from Punjab National Bank. The company is seeking an additional exposure of ₹100 crore under this facility, which is aimed at supporting its export financing requirements.
The board will also review proposals related to the company's Corporate Social Responsibility (CSR) initiatives. IPO Performance and Market Debut
HMA Agro made its debut on the stock exchanges in July 2024, listing at a premium of nearly 7% over its issue price of ₹585. The company's ₹480-crore Initial Public Offering (IPO) was comprised of a fresh issue worth ₹150 crore and an offer-for-sale of ₹330 crore. The IPO was moderately successful, garnering 1.62 times subscription by the close of bidding on June 23, 2024. Broader Market Weakness
The resilience in HMA Agro's share price came against the backdrop of a steep decline in the broader equity markets. Benchmark indices Sensex and Nifty opened sharply lower, mirroring weak global cues amid growing concerns over the U.S. fiscal outlook and rising debt-related risks.
In early trade, the Sensex dropped by 578.3 points, reaching 81,018.33, while the Nifty slipped 203.45 points to 24,610. The decline deepened later in the session, with the Sensex falling as much as 746.48 points to 80,832.82, and the Nifty dropping by 233.80 points to 24,575.65.