4,537 shares changed hands in the counter on BSE by early afternoon trade.

The stock had plunged 14% in two trading sessions on 21 September 2005 and 22 September 2005 to settle at Rs 52.45 on 22 September 2005 from its close of Rs 61.10 on 20 September 2005, in a weak market. It had recovered to Rs 54.20 on 23 September 2005.

IVP Felda Palm International has been set up under a Joint Venture Agreement between IVP and Felda Palm Industries SDN BHD of Malaysia for import, trading, marketing and selling palm oils, their fraction and products, with initial shareholding of 70% by IVP and Allana Group (promoters of IVP) and 30% foreign equity.

IVP's edible oil division takes up a major slice of the entire sales cake of the company. The rest is made up of sales of vanaspati as well as sales arising out of the foundry chemicals division among others.

IVP’s 2004-2005 annual report states that as a result of changes in government policies, importing oil for manufacture of refined oils/vanaspati is not an economical proposition. The duty on finished goods from most countries is lower than the duty on raw materials, making manufacturing unviable.

For Q1 June 2005, IVP reported a net loss of Rs 1.34 crore which was lower than a net loss of Rs 4.34 crore in Q1 June 2004. Net sales declined 24% to Rs 53.22 crore (Rs 70.17 crore).