Apex Frozen others rise up to 8% as FM reduces BCD on frozen fish products

Apex Frozen Foods, Avanti Feeds, and Waterbase stock gained up to 8.4 per cent after during the Budget 2025 presentation, Finance Minister Nirmala Sitharaman announced a framework for sustainable harnessing of fisheries and reduced custom duty on frozen fish paste and fish hydrolysate.

 

Around 12:23 PM, Apex Frozen Foods shares were up 4.57 per cent, Avanti Feeds shares were up 3.24 per cent, Godrej Agrovet up over 2 per cent and Waterbase shares were up 3.6 per cent. In comparison, the BSE Sensex was down 0.44 per cent as compared to 77,161.12. 

 

As per the Budget document, India ranks second-largest globally in fish production and aquaculture. Seafood exports are valued at Rs 60,000 crore and to unlock the untapped potential of the marine sector, the government is enabling framework for sustainable harnessing of fisheries from Indian Exclusive Economic Zone and High Seas, with a special focus on the Andaman and Nicobar and Lakshadweep Islands.

 

Further, the centre also proposed to reduce basic custom duty (BCD) from 30 per cent to 5 per cent on frozen fish paste (Surimi) for the manufacture and export of its analogue products.

 

The government also propose to reduce BCD from 15 per cent to 5 per cent on fish hydrolysate for the manufacture of fish and shrimp feeds.

 

Moreover, Kisan Credit Cards (KCC) facilitate short term loans for 7.7 crore farmers, fishermen, and dairy farmers. The loan limit under the Modified Interest Subvention Scheme will be enhanced from Rs 3 lakh to 5 lakh for loans taken through the KCC. 

 

In the Budget presentation, the Finance Minister also announced PM Dhan Dhanya Krishi Yojana which is expected to enhance agri productivity. The scheme is anticipated to cover 100 districts and aims to include crop diversification, augmenting storage, improving irrigation, and facilitating long and short-term credit for farmers. 

 

The Indian stock markets were open for trading on Saturday, February 1, as Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26. 

 

According to a circular issued by the National Stock Exchange (NSE), trading will follow the standard schedule from 9.15 am to 3.30 pm.

 

BSE has also confirmed that markets will remain open for regular trading hours on February 1, 2025. Additionally, BSE indices will be calculated on the special trading day.

 

Stock markets in India are typically closed on weekends. However, in special cases like the Union Budget, trading is allowed on a Saturday. This was also done on February 1, 2020, and February 28, 2015, when Budgets were presented on Saturdays.

 

For those interested in pre-market trading, the NSE will operate from 9:00 am to 9:08 am on Budget Day.

 

The Budget Session kicked off at around 11 AM, where Nirmala Sitharaman presented the full-year Budget.