Avanti Feeds surged 14.4% to Rs 1,882 at 9:43 IST on BSE after consolidated net profit jumped 203.6% to Rs 148.84 crore on 37.8% increase in net sales to Rs 998.17 crore in Q1 June 2017 over Q1 June 2016.
The result was announced after market hours on Friday, 11 August 2017.
Meanwhile, the S&P BSE Sensex was up 227.05 points, or 0.73% at 31,440.64. The S&P BSE Mid-Cap index was up 234.86 points, or 1.59% at 14,961.13.
High volumes were witnessed on the counter. On the BSE, 43,000 shares were traded on the counter so far as against the average daily volumes of 27,648 shares in the past one quarter. The stock had hit a high of Rs 1,974.10 so far during the day, which is also its record high. The stock hit a low of Rs 1,850 so far during the day. The stock had hit a 52-week low of Rs 411 on 9 November 2016.
The stock had outperformed the market over the past one month till 11 Aug 2017, advancing 2.6% compared with the Sensex’s 1.68% fall. The scrip had also outperformed the market over the past one quarter advancing 83.98% as against the Sensex’s 3.18% rise. The scrip had also outperformed the market over the past one year advancing 177.33% as against the Sensex’s 12.04% rise.
The mid-cap company has equity capital of Rs 9.08 crore. Face value per share is Rs 2.
Avanti Feeds is the leading manufacturer of prawn and fish feeds and shrimp processor and exporter from India.