Kings Infra Ventures hits new 52-week high on inking pact with CIFT
Kings Infra Ventures is currently trading at Rs. 91.00, up by 6.90 points or 8.20% from its previous closing of Rs. 84.10 on the BSE.
The scrip opened at Rs. 85.00 and has touched a high and low of Rs. 92.45 and Rs. 85.00 respectively. So far 84763 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 92.45 on 23-Aug-2022 and a 52 week low of Rs. 29.55 on 08-Sep-2021.
Last one week high and low of the scrip stood at Rs. 92.45 and Rs. 80.00 respectively. The current market cap of the company is Rs. 212.43 crore.
The promoters holding in the company stood at 71.69% and Non-Institutions held 28.31%.
Kings Infra Ventures has signed a pact with Central Institute of Fisheries Technology (CIFT) for developing ready to eat and ready to serve fish products by adopting steam or water immersion technology capable of achieving very long shelf life under normal room temperature without using any chemical additives or preservatives. The innovative project would also help in providing an opportunity for optimising ingredients, processing and heating conditions of the region-specific ethnic dishes.
The two entities would also collaborate on a project to remove the protein content from the shell before adding chemicals by using a specially designed machine. The improved process helps in cutting down the use of chemicals substantially. The process helps in improving the quality of chitin and chitosan at a reduced cost. The effluent treatment cost is also reduced due to the cutting down in chemical usage. The protein separated can be used for many products including feed and other bio active molecules.
Kings Infra Ventures is pioneer in India's seafood and aquaculture industry was originally registered as ‘Victory Aqua Farm’.