While many traders are seemingly taking an early holiday today, there are a few stocks which have seen quite a run this afternoon. One such stock is Amira Nature Foods Ltd (NYSE:ANFI), whose shares have soared this afternoon without any major news on relatively light volume. Shares, which are down from a high of over $10.40 at the end of November had been struggling throughout the month of December, but that seems to all have changed as the stock has been gaining steadily throughout the day. At approximately 12 p.m. ET shares surged from around $8.95 to $9.72 in a matter of only 15 minutes or so. Since then the share price has settled down a bit but is still up considerably.
The stock is up 14.04% or $1.14 following the news, hitting $9.26 per share. About 455,526 shares traded hands. ANFI has declined 27.50% since May 20, 2015 and is downtrending. It has underperformed the S&P500 by 25.24%.
Amira Nature Foods Ltd. is a well-known provider of packaged Indian specialty rice and other related rice based products. The company has a market cap of $304.80 million. The Company’s products include snacks, ready-to-heat meals, organic product offerings, wheat, barley and legumes. It has 6.73 P/E ratio. ANFI sells Basmati rice, a long-grain variety of rice grown only in certain regions of the Indian sub-continent, under the brand name Amira.