Multibagger stock Avanti Feeds sees a block deal, share price correction today
At 9 am today, Avanti Feeds saw 44 lakh shares - as much as 10% of its equity - change hands. The news came in after a preliminary announcement of anti-dumping duty imposed by the US on shrimp food manufacturers (the final announcement is expected in a few months, if it is finalized). Last year, the US government had made a similar preliminary recommendation, which it had not eventually imposed. Avanti Feeds has provided bumper returns to investors in the past year, jumping 233%. Avanti Feeds management has expected growth to be at 15-20% for the financial year, and demand to drive a ramp up in capacity utilization to close to 90%. Avanti said that the imposition of anti-dumping duties wouldn't impact its numbers, saying, "there is huge room for growth."12-03-2018
