Shrimp stocks rally amid news that trade deal talks between India and the US have gained momentum after Narendra Modi and Donald Trump expressed optimism on resolving long-standing issues.
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.
Finance Minister Nirmala Sitharaman announced a proposal to provide finance for shrimp farming and marketing in Budget 2024-25
Shares of Avanti Feeds, Coastal Corporation, and Waterbase soared up to 20 per cent in trade, as against a 2.05 per cent climb in the S&P BSE Sensex
Avanti Feeds dipped 4% to Rs 1,476 falling 24% in past five trading sessions post March quarter results.