Avanti Feeds rises on plan to set-up power consumption Wind Mill

Avanti Feeds Ltd. | Consumer Food | FMCG | BSE: 512573 | NSE: AVANTIFEED

14 Sep 2015 Evaluate

Avanti Feeds is currently trading at Rs. 2843.00, up by 10.50 points or 0.37% from its previous closing of Rs. 2832.50 on the BSE.

The scrip opened at Rs. 2850.00 and has touched a high and low of Rs. 2927.50 and Rs. 2802.50 respectively. So far 1107 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 3245.00 on 19-Aug-2015 and a 52 week low of Rs. 1400.00 on 20-Oct-2014.

Last one week high and low of the scrip stood at Rs. 2927.50 and Rs. 2555.00 respectively. The current market cap of the company is Rs. 2572.77 crore.

The promoters holding in the company stood at 44.21% while Institutions and Non-Institutions held 6.23% and 49.57% respectively.

Avanti Feeds has received an approval for setting up power consumption Wind Mill for captive power consumption. The board of directors at their meeting held on September 12, 2015 have approved for the same.

The board has also approved transfer of Shrimp Processing Business of the company to Avanti Frozen Foods, a wholly owned subsidiary of the company, on a going concern basis by way of slump sale at a value not lower than the net book value of the assets and liabilities of Shrimp Processing Business.

Avanti Feeds is engaged in processing shrimps and packing Pan Frozen as well as IQF. It exports shrimps to USA, Japan, Australia and UK etc.