Avanti Feeds Ltd, Apex Frozen Foods Ltd, Mukka Proteins Ltd and Zeal Aqua Ltd climbed up to 9 per cent in Tuesday's trade after the Finance Minister Nirmala Sitharaman in her Budget speech said her government would facilitate financing for shrimp farming. The FM said financial support will be offered for setting up a network of nucleus breeding Centers for shrimp growth. Financing for shrimp farming, processing and export will be facilitated through NABARD, she said.
Following the development, shares of Apex Frozen Foods Ltd climbed 7.51 per cent to hit a high of Rs 271. The stock, however cut gains and was later trading 3.15 per cent higher at Rs 260. Avanti Feeds Ltd shares climbed 8.64 per cent to Rs 669.95. It was later trading at Rs 646.50, up 4.84 per cent. Zeal Aqua Ltd shares surged 8.80 per cent to Rs 13.84. Mukka Proteins Ltd added 0.63 per cent to Rs 51.
Benchmark indices Sensex and Nifty, which were trading in the red, entered positive terrain as soon as the Finance Minister Nirmala Sitharaman began her Budget speech in Lok Sabha.
Sitharaman said her Budget is focused on inclusive human development, manufacturing, urban development, energy security, infrastructure and next generation reforms, among others.
Sitharaman said Budget for FY25 to provide Rs 1.48 lakh crore for education and employment and skill: FM Sitharaman "People have given unique opportunity to our government to take India on path of strong development, all round prosperity," Sitharaman said.
The Interim Budget 2024 focussed on the upliftment of four major groups: ‘Garib’ (Poor), ‘Mahilayen’ (Women), ‘Yuva’ (Youth) and ‘Annadata’(Farmer). However, FM Sitharaman proposed to retain the same tax rates for direct taxes as well as indirect taxes, he said.