Buy Avanti Feeds, target price Rs 700: Yes Securities

Yes Securities has buy call on Avanti Feeds with a target price of Rs 700. The current market price of Avanti Feeds Ltd. is Rs 642.5. Time period given by analyst is Intra Day when Avanti Feeds price can reach defined target.
Avanti Feeds Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 8685.66 Crore) operating in Aquaculture sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 1116.37 Crore, up 18.30 % from last quarter Total Income of Rs 943.65 Crore and up 6.68 % from last year same quarter Total Income of Rs 1046.43 Crore. Company reported net profit after tax of Rs 70.03 Crore in latest quarter.

Investment Rationale
With sustained move above short-term averages, the series of ascending tops and bottoms is intact. Recent swift reversal from the support zone ensures shift of range on the upside.


Promoter/FII Holdings
Promoters held 43.7 per cent stake in the company as of Dec 30, 2020, while FIIs held 17.6 per cent, DIIs 3.3 per cent and public and other 35.4 per cent.