Kaveri Seed Company stock down on license suspension

The company stated in an exchange filing that the government of Andhra Pradesh has suspended the licenses of 14 seed companies including that of Kaveri Seed Company on 28th January, 2019.

Feb 22, 2019 05:02 IST India Infoline News Service

Kaveri Seed Company
Kaveri Seed Company shares were trading in the red on Friday erasing gains made earlier in the day. Shares of the company were trading down ~1% after the company mentioned in an exchange filing that the government of Andhra Pradesh has suspended the licenses of 14 seed companies including that of  Kaveri Seed Company on 28th January, 2019.

The company, however, mentioned that the suspension will have no impact on the budgeted sales of the company. 

Kaveri Seed Company Limited is an India-based seed company. The Company is engaged in the production, processing and marketing of hybrid seeds.

Kaveri Seed Company Ltd is currently trading at Rs412.50 down by Rs4.15 or 1% from its previous closing of Rs416.65 on the BSE.

The scrip opened at Rs419.70 and has touched a high and low of Rs424.25 and Rs411.30 respectively. So far 22,34,431 (NSE+BSE) shares were traded on the counter.

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