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Avanti Feeds rallies 30.45% in two sessions

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surged 8.71% to Rs 1,171.85 at 10:47 on BSE, with the stock extending Monday's rally triggered by the company reporting strong Q4 March 2017

Meanwhile, the S&P Sensex was up 96.96 points or 0.32% at 30,419.08. The Small-Cap index was up 31.83 points or 0.2% at 15,682.20.

On the BSE, 49,000 shares were traded on the counter so far as against the average daily volumes of 13,958 shares in the past one quarter. The stock had hit a high of Rs 1,220 so far during the day, which is a record high. The stock hit a low of Rs 1,125 so far during the day.

The stock had hit a 52-week low of Rs 411 on 9 November 2016. It had outperformed the market over the past one month till 15 May 2017, advancing 23.76% compared with the Sensex's 2.92% rise. The scrip had also outperformed the market over the past one quarter, gaining 84.39% as against the Sensex's 7.69% rise.

The mid-cap company has equity capital of Rs 9.08 crore. Face value per share is Rs 2.

Shares of have rallied 30.45% in two trading sessions from its closing of Rs 898.30 on 12 May 2017 after the company announced strong Q4 March 2017 earnings on Saturday, 13 May 2017. The stock spurted by the maximum permissible level of 20% to settle at Rs 1,077.95 yesterday, 15 May 2017.

On consolidated basis, Avanti Feeds' net profit surged 168.6% to Rs 83.88 crore on 50.8% increase in net sales to Rs 699.30 crore in Q4 March 2017 over Q4 March 2016.

The company's consolidated net profit rose 36.1% to Rs 214.35 crore on 35.4% increase in net sales to Rs 2701.98 crore in the year ended March 2017 over the year ended March 2016.

is the leading manufacturer of prawn and fish feeds and shrimp processor and exporter from India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 16 2017. 10:49 IST