Ways2Capital Reviews : Avanti Feeds Extends Gain For Second Session

Avanti Feeds Ltd is currently trading at Rs1,812 up by Rs189.4 or 11.67% from its previous closing of Rs1,622.60 on the BSE. The stock rallied for second consecutive session on Thursday.

The stock rallied after an announcement by Company's top management that shrimp business "doing pretty good".

Managing Director Indra Kumar was quoted in a media report as saying that the company was "not worried about margins and the business is doing pretty good. There is nothing to worry about the business side. Correction in shrimp prices has caused demand to go up".

The scrip opened at Rs1,680 and has touched a high and low of Rs1,845 and Rs1,679 respectively.

Avanti Feeds is a leading manufacturer and exporter of shrimp feeds and shrimp processor. It also operates wind mill with an installed capacity of ~3.2 megawatt in Karnataka. It derived ~83% revenue from shrimp feeds and ~17% revenue from processed shrimp during FY18. The total feed capacity stands at six lakh tonnes per annum as on March 31, 2018.
 
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About Bhoomi Desai

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