Aquaculture stocks in green

Nirmala Sitaraman, in the Union Budget yesterday, gave sops to the aquaculture industry. The FM has announced that the Govt will be giving financial support for setting up a network of Nucleus Breeding Centres for Shrimp Broodstocks. The FM also said that through NABARD, shrimp farmers, processors and exporters will get finance.

With frozen shrimp accounting for two-thirds of total seafood exports in FY24. The FM, to give it further boost reduced the basic customs duty on certain broodstock, polychaete worms, shrimp and fish feed to 5%. The FM also exempted customs duty on various inputs for manufacture of shrimp and fish feed.

This has given a great impetus to all the listed aquaculture companies with Avanti Feeds hit a new high at Rs.724.90, up 12.5%; Waterbase hit the 20% UC briefly at Rs.102.18. Other stocks like Apex Foods, Mukka Proteins, Kings Infra, Godrej Agrovet and Sharat Inds are up strongly in the green.