Avanti Feeds is currently trading at Rs. 1886.50, up by 241.40 points or 14.67% from its previous closing of Rs. 1645.10 on the BSE.
The scrip opened at Rs. 1974.10 and has touched a high and low of Rs. 1974.10 and Rs. 1837.05 respectively. So far 80466 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 1974.10 on 14-Aug-2017 and a 52 week low of Rs. 411.00 on 09-Nov-2016.
Last one week high and low of the scrip stood at Rs. 1974.10 and Rs. 1441.10 respectively. The current market cap of the company is Rs. 8593.47 crore.
The promoters holding in the company stood at 43.89%, while Institutions and Non-Institutions held 33.71% and 22.40% respectively.
Avanti Feeds has received an approval for creation of additional capacity of 1,75,000 MT at Shrimp Feed plant at Bandapuram, West Godavarai District in Andhra Pradesh. The company will require Rs 50 crore investment for this pupose. It aims to meet increased demand for shrimp feed.
Besides, the company has also received an approval for extending corporate guarantee to Banks for working capital facilities of Rs 134.90 crore (including existing term loan of Rs 14.90 crore) to be sanctioned by Banks to its subsidiary, Avanti Frozen Foods. The board of directors at its meeting held on August 11, 2017 has approved for the same.
Avanti Feeds is engaged in the production of scientifically formulated and nutritionally balanced water-stable international quality shrimp feed in India. They are also the largest supplier of shrimp feed in the entire coast of India and other countries.
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