Avanti Feeds jumps after board plans to consider stock split

Avanti Feeds jumped 5.66% to Rs 2,642 at 14:30 IST on BSE after the company said that a meeting of the board of directors of the company will be held on 12 September 2015, to consider stock split.

The announcement was made during market hours today, 3 September 2015.

Meanwhile, the BSE Sensex was up 342.19 points, or 1.34%, to 25,795.75.

On BSE, so far 3,825 shares were traded in the counter, compared with an average volume of 5,298 shares in the past one quarter.

Shares of mid-cap company hit a high of Rs 2,644 and a low of Rs 2,516.50 so far during the day. The stock had hit a record high of Rs 3,245 on 19 August 2015. The stock had hit a 52-week low of Rs 1,246 on 2 September 2014.

Avanti Feeds said that the company's board in its meeting on 12 September 2015, will also consider transfer of shrimp processing business to Avanti Frozen Foods, a wholly owned subsidiary of Avanti Feeds.

Avanti Feeds' net profit surged 78.4% to Rs 45.71 crore on 27% growth in total income to Rs 610.93 crore in Q1 June 2015 over Q1 June 2014.

Avanti Feeds is into development of prawn culture, processing and exports with its state-of-art shrimp and fish feeds and processing plants.

Powered by Capital Market - Live News