Apex Frozen Foods breaches upper circuit yet again
DSIJ Intelligence / 15 Sep 2017
For the ninth session in a row, shares of Apex Frozen Foods locked at upper circuit limit of 5 per cent on Friday.
For the ninth session in a row, shares of Apex Frozen Foods locked at upper circuit limit of 5 per cent on Friday.
Apex Frozen Foods was listed on the bourses on September 4, 2017 at a 14 per cent premium. Its shares listed at Rs 175 have jumped 86 per cent over its issue price so far, closing at Rs. 327.40 on BSE.
The company offers variants of processed white shrimp under brands like Bay Fresh, Bay Harvest and Bay Premium. The proceeds from the IPO will be utilised for setting up a new shrimp processing unit with a capacity of 20,000 MTPA at East Godavari District, Andhra Pradesh for general corporate purposes.
Listed players such as Avanti Feeds, The Waterbase and Zeal Aqua are among key competitors of Apex Frozen. The company’s total revenues grew from Rs 255.48 crore in fiscal 2013 to Rs 709.68 crore in fiscal 2017. The company has a considerable farming operation spread across 1,337.69 acres of land.
The stock attracted total traded volume of 538769 shares on NSE.
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