Stock market update: Avanti Feeds extends gains to the second session, zooms nearly 14%
Around 11:15 am, the scrip was trading 11.24 per cent up at Rs 1,805. The Sensex was 0.91 per cent up at 35,500.
By ETMarkets.com |
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NEW DELHI: Extending the gains to the second session, shares of Avanti Feeds surged nearly 14 per cent on BSE during Thursday's trade.
Around 11:15 am, the scrip was trading 11.24 per cent up at Rs 1,805. The Sensex was 0.91 per cent up at 35,500.
Shares of the company has been rallying since Wednesday as a top executive tried to calm nerves about the state of affairs in the company.
Managing Director Indra Kumar told ETNow that shrimp demand has normalised and the company has order for the next 6 months.
"We are not worried about margins and the business is doing pretty good. There is nothing to worry about the business side. Correction in shrimp prices has caused demand to go up," Kumar said.
Shares of the company had hit 52-week low of 1,232 on 5 June, 2018. It had hit 52-week high of 3,000 on 13 November, 2017.
Around 11:15 am, the scrip was trading 11.24 per cent up at Rs 1,805. The Sensex was 0.91 per cent up at 35,500.
Shares of the company has been rallying since Wednesday as a top executive tried to calm nerves about the state of affairs in the company.
Managing Director Indra Kumar told ETNow that shrimp demand has normalised and the company has order for the next 6 months.
"We are not worried about margins and the business is doing pretty good. There is nothing to worry about the business side. Correction in shrimp prices has caused demand to go up," Kumar said.
Shares of the company had hit 52-week low of 1,232 on 5 June, 2018. It had hit 52-week high of 3,000 on 13 November, 2017.
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