Amira Nature Foods Ltd (NYSE:ANFI), a leading global provider of packaged Indian specialty rice, announced today that it categorically rejects the false and misleading claims made by Prescience Point Research Group. The Company believes that the false information disseminated against it has damaged the Company and its shareholders and Amira looks forward to correcting the false statements, restoring shareholder confidence, and protecting those shareholders through every means available to the Company.
The Company remains confident in the veracity of its fiscal 2015 results which it released on July 16, 2015, as well as its fiscal 2014 and fiscal 2013 audited financials. The Company is also, as it announced earlier in the week, committed to working with its new audit partners,ASA & Associates, a leading independent PCAOB certified audit firm with more than 500 employees across eight cities in India, to produce its 2015 audited financials.
“Our Executive Management team and our Independent Board of Directors remain committed to the Company and are confident in our ability to guide the Company through these times,” said Chairman and CEO Karan A. Chanana. (Original Source)
Following the news. Amira Nature Foods shares increased 7.04% to $3.04. ANFI has a 1-year high of $19.86 and a 1-year low of $2.51. The stock’s 50-day moving average is $10.65 and its 200-day moving average is $10.24.
On the ratings front, Oppenheimer analyst Rupesh Parikh maintained a Buy rating on ANFI, in a report issued on August 3. According to TipRanks.com, Parikh has a total average return of 4.0%, a 59.2% success rate, and is ranked #1000 out of 3738 analysts.
Amira Nature Foods Ltd is a provider of packaged Indian specialty rice, with sales in over 60 countries. It also sell other products such as wheat, barley and legumes.