Advanta India declined 0.43% to Rs 900.10 at 11:28 IST on BSE after the company, through its subsidiary, acquired the sunflower seed business of US-based Limagrain.
The stock hit a high of Rs 918.80 and a low of Rs 885 so far during the day. The stock had a 52-week high of Rs 1,740 on 7 January 2008 and a 52-week low of Rs 730 on 10 August 2007.
The company has an equity capital of Rs 16.83 crore. Face value per share is Rs 10.
The acquisition contains mainly the sunflower breeding program, based in Fargo North Dakota, US. This business has been breeding and marketing sunflower hybrids for both the domestic and international markets using a multi channel, private label marketing and distribution model.
Advanta India reported a net loss of Rs 9.17 crore in Q1 March 2008 as compared to a net loss of Rs 1.64 crore in Q1 March 2007. Sales rose 2% to Rs 10.47crore in Q1 March 2008 over Q1 March 2007.
Bangalore headquartered Advanta India is a subsidiary of United Phosphorus. The company is engaged in research & development, production, distribution and marketing of hybrid agricultural field crop seeds and plant seeds.
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