After an announcement in the Union Budget on Tuesday, shares of companies involved in the shrimp business surged on Wednesday by up to 20% on Wednesday, including those of Avanti Feeds, Waterbase Limited, Apex Frozen Foods, Zeal Aqua and Mukka Proteins.
Avanti Feeds' shares climbed nearly 20% on Wednesday, reaching a 52-week high of Rs 764.40. By the end of the trading day, the shares closed 14% higher at Rs 736 apiece.
Over the past few years, Avanti Feeds' shares have delivered a 45,000% return. The shares have risen from Rs 1 to Rs 764 over approximately 14 years. On January 8, 2010, the shares were priced at ₹1.63 each. In the past year alone, the stock has seen an 86.75% increase.
In the last five days, Avanti Feeds' shares have surged by 22%. Since January, the stock has risen by 68.27% this year. Over the past six months, it has increased by 44%. In the past month, the shares have climbed by more than 19%. Over the last five years, the stock has seen a 12b8% increase.
Waterbase Limited's shares surged by 20% on Wednesday, reaching Rs 102. Apex Frozen Foods Limited's shares also jumped by 20%, hitting Rs 311.75. Zeal Aqua's shares saw a 10% increase, reaching Rs 15.35.
In her budget speech, Nirmala Sitharaman announced financial support for shrimp farming. She mentioned that a network of nucleus breeding centers would be set up to support shrimp growth, with financial assistance provided for farming, processing, and export through NABARD.
