Avanti Feeds moves up on plan to acquire 100% stake in Avanti Frozen Foods

06 Jul 2015 Evaluate

Avanti Feeds is currently trading at Rs. 1685.25, up by 2.75 points or 0.16% from its previous closing of Rs. 1682.50 on the BSE.

The scrip opened at Rs. 1653.00 and has touched a high and low of Rs. 1744.00 and Rs. 1653.00 respectively. So far 326 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 2124.95 on 10-Nov-2014 and a 52 week low of Rs. 647.10 on 15-Jul-2014.

Last one week high and low of the scrip stood at Rs. 1744.00 and Rs. 1492.00 respectively. The current market cap of the company is Rs. 1528.22 crore.

The promoters holding in the company stood at 44.17% while Institutions and Non-Institutions held 6.00% and 49.84% respectively.

Avanti Feeds has received an approval for purchase of total equity shares of Avanti Frozen Foods, comprising of 5,000 equity shares of Rs10 each fully paid from A. Indra Kumar and 5,000 equity shares of Rs 10 each fully paid from C. Ramachandra Rao at par. Consequent on purchase of shares, Avanti Frozen Foods will be a wholly owned subsidiary of the company. The board of directors at their meeting held on July 04, 2015 has approved for the same.

The board also approved to transfer the existing shrimp processing facilities of the company at Ravulapalem, East Godavari District, Andhra Pradesh to Avanti Frozen Foods to facilitate bringing the shrimp processing facilities under one roof.

Further, board approved implementation of a new Shrimp Processing Facility in East Godavari District, Andhra Pradesh, by Avanti Frozen Foods, a subsidiary of Avanti Feeds and to expand shrimp feed production capacity by setting up a new shrimp feed plant in West Godavari District, Andhra Pradesh.

 

Avanti Feeds Share Price

534.00 -7.60 (-1.40%)
23-May-2024 15:31 View Price Chart
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