Shares of Kaveri Seeds today jumped by around 7 per cent after the company announced that it has opened a new plant in Telangana.
The stock was trading at Rs 407.50 on BSE, a gain of 6.91 per cent over its previous close.
On NSE, it was trading at Rs 407.90, a rise of 7.18 per cent.
Kaveri Seed Company Ltd yesterday announced that it has opened a new plant at Karimnagar District of Telangana with an investment of over Rs 21 crore.
The plant, which is scheduled to commence operations in the first week of May, spread across 14 acres has an installed capacity of 10 to 20 tonnes (Paddy/Maize) of production per hour based on the crop, the firm said in a BSE filing.
The plant will enhance the existing capacity of seed process to meet the growing demand from the markets, company's Managing Director G V Bhaskar Rao said.
