AVT Natural rebounds from 52-week low as board approves liberal bonus issue

AVT Natural Products jumped 8.92% to Rs 28.70 at 11:41 IST on BSE after the company's board of directors approved issue of 1:1 bonus shares.

Meanwhile, the BSE Sensex was down 133.51 points, or 0.69% to 19,214.83

On BSE, 13,750 shares were traded in the counter as against average daily volume of 5,196 shares in past one quarter.

The stock dropped as much as 5.12% at day's low of Rs 25, which is also its 52-week low. The stock hit a high of Rs 29 so far during the day. The stock had hit a 52-week high of Rs 45.10 on 9 October 2012.

The small-cap stock had underperformed the market over the past one month till 30 July 2013, falling 3.66% compared with the Sensex's 0.24% fall. The scrip, however, outperformed the market in past one quarter, rising 1.54% as against Sensex's 0.80% fall.

The company has an equity capital of Rs 7.61 crore. Face value per share is Re 1.

AVT Natural Products during market hours today, 31 July 2013 said its board of directors at its meeting held today, 31 July 2013, discussed and approved the issue of bonus shares in the ratio of 1:1 (one bonus share for each held).

AVT Natural Products' net profit rose 2.7% to Rs 11.78 crore on 20.9% growth in net sales to Rs 58.62 crore in Q4 March 2013 over Q4 March 2012.

AVT Natural Products is engaged in the business of coffee and cotton plantations, tea processing, production of spices and herbs, manufacture of oil cakes and sunflower oil.

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