Avanti Feeds rises 5%

Avanti Feeds is in the limelight today morning, with the stock price rising almost 5% to Rs.1901.30. Its 52-week high is at Rs.1974.10.

The company is engaged in the business of manufacturing prawn and fish feeds, shrimp processing and exports from India. The stock price is reacting today to the news that it began commercial production at its subsidiary Avanti Frozen Foods’ new plant in Andhra Pradesh.

The company had posted a very good performance for Q1FY18, with consolidated net profit growing by a whopping 204% at Rs.149 crore on a 38% rise in revenue at Rs.998 crore. A combination of favourable international prices and strong demand from U.S. and other countries aided the first quarter earnings.