Apex Frozen, Waterbase, Zeal Aqua rise up to 8% post Budget presentation

As per the Budget document, the government proposes to increase the limit for duty-free imports of specified inputs used for processing seafood products for export, to 3 per cent

Shares of Apex Frozen Foods, Waterbase, and Zeal Aqua-- gained up to 8.3 per cent after Finance Minister Nirmala Sitharaman, during the Budget 2026 presentation, announced to increase the limit for duty-free imports of specified inputs used for processing seafood products for export. 

 

Around 1:21 PM, Apex Frozen Foods shares were up 4.17 per cent, Waterbase shares were up 2.62 per cent, and Zeal Aqua stock rose 6.64 per cent. In comparison, the BSE Sensex was down 0.82 per cent as compared to 81,598.37. 

 

As per the Budget document, the government proposes to increase the limit for duty-free imports of specified inputs used for processing seafood products for export, from the current 1 per cent to 3 per cent of the FOB value of the previous year’s export turnover.  READ LATEST STOCK MARKET UPDATES TODAY LIVE 

 

The Finance Minister also announced integrated development of 500 reservoirs and Amrit Sarovars and proposed to strengthen the fisheries value chain in coastal areas and enable market linkages involving start-ups and women-led groups, together with Fish Farmers Producer Organisations. 

 

Seafood stocks saw buying even when the Indian equities were falling.  The BSE Sensex touched an intra-day high at 82,727 after Sitharaman started her Budget speech, and proposed measures for railways and textile-related sectors. The Sensex, however, erased gains and tumbled to a low of 79,899 - down 2,828 points or 3.4 per cent from the day's high following the STT hike.

 

Similarly, the National Stock Exchange (NSE) Nifty plunged to a low of 24,572 - down 869 points or 3.4 per cent from the day's high of 25,442.

 

According to a circular issued by the NSE, trading will follow the standard schedule from 9.15 am to 3.30 pm.  ALSO READ | Why market crashed on Budget day? Sensex down 2,800 pts from day's high 

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.

 

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