avanti Feeds Stock Price: Multibagger Tracker: This BSE500 stock went from Rs 10,000 to Rs 5 lakh in just 10 years.
If an investor had invested Rs 10,000 in stocks 10 years ago and stayed there, his investment would have grown to almost Rs 5 lakh.
But returns have been shrinking over the past few years. The stock is down 55% over the past five years and up a modest 18% over the past three years.
Avanti Feeds, a BSE500 component with a market capitalization of just over Rs 5,000 crore, is one of India’s largest seafood companies. We operate on a consistent supply chain and farm-to-fork model using a vertically integrated infrastructure of fish farms, feed mills, hatcheries and processing plants.
The company’s EPS on a trailing twelve months (TTM) is 21.61 and the stock is currently trading at a PB of 3. According to the latest stock holding pattern available on the exchange, retail investors own majority of the shares at 56.72. %, the remaining 43.28% belongs to the promoters.
Among general shareholders, mutual funds hold about 8.4% of the shares, and foreign portfolio investors hold 9%.
Total revenue for half-year FY24 declined to Rs 2,898 crore from Rs 2,930 crore in the same period of the previous fiscal. PBT in the first half of the year increased to Rs 270 crore mainly due to lower raw material costs and higher other revenues.Technical Outlook – What should traders do?
After years of consolidation, current levels are ripe for investors to free up cash and start making new purchases, analysts said.
“If you look at the long-term chart, the stock price has been in check for the past six years. On the other hand, the P/B is close to 2 and the PER is below 17. On the monthly chart, the stock price is in a pennant shape,” said Vaibhav Kaushik, research analyst at GCL Broking. is good to buy for Rs 640 and Rs 720 targets,” he said.
(With data input by Ritesh Presswala)
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(Disclaimer: Recommendations, suggestions, views and opinions provided by experts are their own and do not represent the views of The Economic Times.)
