Kaveri Seed Company share price rallied over 5 per cent on Wednesday after the company announced that it has opened a new plant at Molangur Village, Shankarapatnam Mandal, Karimnagar District, Telangana State. The total investment made in the plant is over Rs 21 crore.
The share price of the company closed 5.23 per cent up at Rs 401.10.
The new plant is spread across 14 acres site with a built up areas of around 1,95,000 Sq feet It has installed capacity of 10 to 20 tonne (Paddy/Maize) of production per hour based on the crop. The new plant is scheduled to commence operations in the first week of May 2016.
The promoters holding in the company stood at 57.49 per cent while institutions and non-institutions held 23.96 per cent and 18.55 per cent respectively.
Kaveri Seed Company is engaged in production, processing and marketing of seeds to farmers. It provides seeds for different crops like corn, sunflower, cotton, paddy, and grain sorghum. It products also includes micro-nutrients and bio products.