The shares of a FMCG stock, in manufacturing high-quality feed for shrimps operating the Vannamei hatchery and processing and exporting shrimps, jumped upto 9 percent following a Bulk deal involving IIFL Facilities Services.
Price action
With a market capitalization of Rs. 10,995.02 crores on Wednesday, the shares of Avanti Feeds Limited jumped upto 9.1 percent making a high of Rs. 808.10 per share compared to its previous closing price of Rs. 740.45 per share.
What Happened
Avanti Feeds Limited, a company engaged in manufacturing high-quality feed for shrimps operating the Vannamei hatchery and processing and exporting shrimps, recently experienced a bulk deal, in which IIFL Facilities Services Bought 59.77 Lakh equity shares which consists of 4.38 percent stake at Rs. 728 apiece on March 4, resulting in a total value of around Rs. 435.15 Crore.
The company bought the stake from Thai Union Asia Investment Holding, in which they sold 59.77 Lakh shares at Rs. 728 apiece on March 4, which consists of a 4.38 percent stake in the company, resulting in a total value of around 435.15 Crore.
Company Highlights
The company’s Shrimp Feed sales in Q3FY25 were 1,32,049 MT, an increase of 15,713 MT from Q3FY24, registering strong growth of 14 percent YoY. The company’s Shrimp Processing & Export saw steady production compared to the last two quarters and recorded YoY growth. Sales increased YoY in Q1 and Q2 but declined by 3.7 percent in Q3FY25, mainly due to higher shipments in transit.
About the company
Avanti Feeds is a leading manufacturer and exporter of shrimp feed in India, specializing in high-quality feed for aquaculture. The company also engages in shrimp processing and export, catering to global markets. The company has built a significant presence in the seafood industry, contributing to India’s position as a major player in shrimp exports.
Financials
The company’s total revenue rose by 9.17 percent from Rs. 1,286.95 crore to Rs. 1,404.9 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs. 72.47 crore to Rs. 135.21 crore during the same period.
Written by Sridhar J
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
