Avanti Feeds inches up on working on multi-pronged strategy to maintain growth
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Avanti Feeds is currently trading at Rs. 439.25, up by 1.45 points or 0.33% from its previous closing of Rs. 437.80 on the BSE.
The scrip opened at Rs. 443.65 and has touched a high and low of Rs. 443.65 and Rs. 436.35 respectively. So far 3888 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 527.95 on 16-Sep-2022 and a 52 week low of Rs. 321.15 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 447.55 and Rs. 429.05 respectively. The current market cap of the company is Rs. 5964.83 crore.
The promoters holding in the company stood at 43.28% while Institutions and Non-Institutions held 24.85% and 31.86% respectively.
Avanti Feeds is working on a multi-pronged strategy to weather the industry headwinds and protect margins and maintain growth. The strategy includes focusing on value-added exports, newer markets, ready-to-eat shrimp products, and a foray into the pet food business in a joint venture with a Thai company.
The company also looks forward to government support in ensuring raw material availability at competitive prices in the domestic market. The company is looking at new markets like China and Japan, apart from the traditional US and European markets, due to subdued demand and prices in the latter.
Avanti Feeds is the leading manufacturer of Prawn and Fish Feeds and Shrimp Processor and Exporter from India.
