INSUBCONTINENT EXCLUSIVE:
Avanti Feeds put its dismal show behind and rallied over 8 per cent on Wednesday morning 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
The scrip was trading 8.67 per cent up at Rs 1,471 at around 10 am whereas the BSE Sensex was up 94 points, or 0.28 per cent, at
There is nothing to worry about the business side
The company management has attributed the drop in shrimp prices to a temporary decline in consumption in the US following an extended
A stable shrimp production in countries like Indonesia and Vietnam has also weighed.
Shares of Avanti Feeds have been on a downhill and
taken a knock of 45 per cent since April 26
The management has guided for at least 10 per cent growth in capacity utilisation in FY19
It expects 60-65 per cent capacity utilisation in processing and export of shrimps
