Avanti Feeds sizzles 43.5% on post-result rally

Avanti Feeds surged 6.55% to Rs 1,289 at 12:50 IST on BSE, with the stock extending recent rally triggered by the company reporting strong Q4 March 2017 results.

Meanwhile, the S&P BSE Sensex was down 4.95 points or 0.02% at 30,577.65. The BSE Mid-Cap index was up 4.72 points or 0.03% at 15,085.11.

On the BSE, 83,000 shares were traded on the counter so far as against the average daily volumes of 16,147 shares in the past one quarter. The stock had hit a high of Rs 1,349 so far during the day, which is a record high. The stock hit a low of Rs 1,170.10 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 16 May 2017, advancing 38.89% compared with the Sensex's 3.81% rise. The scrip had also outperformed the market over the past one quarter, advancing 101.83% as against the Sensex's 8.06% rise.

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

Shares of Avanti Feeds have rallied 43.5% in three 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.

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.

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

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