Kaveri Seeds commences corn drying facility in Telangana

The stock of Kaveri Seeds jumped nearly 5 per on Tuesday as the company commenced corn cob drying facility in Telangana. The facility has a capacity of drying 1455 Mt corn cobs per cycle across 36 bins.

The said plant would help in improving the shelf life of the seeds. This plant has biomass, double pass dryer Corn cob drying unit, which is fully automated. The company has invested nearly Rs. 20 crore for cob drying in its current integrated seed conditioning and packing facility.

In the recently concluded quarter, the company has posted a decline in its topline by 4.89 per cent on YoY basis, whereas PAT declined by 32.86 per cent YoY.

On Monday, the stock of Kaveri Seeds opened at Rs. 440.95 per share and made an intraday high and low of Rs. 461.9 and Rs. 439.50 on the BSE. At 15.22 hours, the stock was trading at Rs. 460.8 per share. The stock had hit its 52-wee