WATER BASE: (BUY/SELL/HOLD/MULTIBAGGER/OUTPERFORMER/OUTLOOK _ Be and Make)

Be and Make’s View:

·         The improvement in the economic scenario in the United States is a positive sign to the Industry as US is the major importer of Indian Shrimps.

·         The Vannamei shrimp species has proved to be very profitable for the farmers. This has resulted in increased area being brought under shrimp farming.

·         Vannamei Shrimp farming which was concentrated in Andhra Pradesh has now commenced in the states of Gujarat, Maharashtra, TamilNadu and Orissa. This would result in increased demand for the Company's shrimp feed.

·         The funds raised from Rights Issue used to reduce the debt which gives good margins in the upcoming quarters.

·         Avanti feeds is one of the top performer, and waterbase has same potential.

With thanks

Be and make

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