Wednesday, June 6, 2018

Avanti Feeds extends gains to the second session, zooms nearly 14%

Extending the gains to the second session, shares of Avanti FeedsNSE 12.89 % surged nearly 14 per cent on BSE during Thursday's trade. 

The scrip was trading 11.24 per cent up at Rs 1,805. The Sensex was 0.91 per cent up at 35,500. 

Shares of the company has been rallying since Wednesday as a top executive tried to calm nerves about the state of affairs in the company. 

Managing Director Indra Kumar told ETNow that shrimp demand has normalised and the company has order for the next 6 months. 

"We are not worried about margins and the business is doing pretty good. There is nothing to worry about the business side. Correction in shrimp prices has caused demand to go up," Kumar said. 

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