New Delhi, March 12 -- Signalling confidence in Avanti Feeds, Kotak Mahindra Mutual Fund raised its stake in the company, bringing its total ownership to more than 5%.

In its regulatory filing on Thursday, 12 March, Avanti Feeds informed investors that Kotak Mahindra Mutual Fund acquired an additional 62,044 shares, or 0.045%, on 10 March via the open market. The fund acquired the equity shares through its equity schemes.

Following this acquisition, Kotak Mahindra Mutual Fund now owns a 5.02% stake in the company, the regulatory filing showed. However, the company has not disclosed the price at which the fund house acquired these shares.

This fresh acquisition comes at a time when the multibagger stock has been witnessing severe volati...