The Union Budget 2024 was presented on Tuesday, July 23. Following an announcement in the budget, shares of companies related to shrimp business saw a dramatic surge on Wednesday. Shares of these companies increased by up to 20% on Wednesday. This includes shares of Avanti Feeds, Waterbase Limited, Apex Frozen Foods, Zeal Aqua, and Mukkah Proteins.
On Wednesday, Avanti Feeds’ shares surged nearly 20% to reach their 52-week high of ₹764.40. However, by the end of trading, the shares closed up 14% at ₹736.
In recent years, Avanti Feeds’ shares have provided a return of 45,000%. The shares have risen from ₹1 to ₹764 during this period, reflecting growth over approximately 14 years. On January 8, 2010, the shares were priced at ₹1.63 each. In the past year alone, this stock has increased by 86.75%.
Stock Surge Over the Past Five Days
In the past five days, shares of Avanti Feeds have surged by 22%. From January to now, the stock has risen by 68.27%. Over the past six months, it has increased by 44%, and in the past month alone, it has climbed by more than 19%. Over the past five years, the stock has seen a rise of 128%.
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Stocks That Rose by 20% Following Budget Announcement
On Wednesday, Waterbase Limited’s shares jumped 20% to reach ₹102. Apex Frozen Foods Limited’s shares also saw a 20% increase, reaching ₹311.75. Zeal Aqua’s shares climbed 10% to ₹15.35.
Budget Announcement
Finance Minister Nirmala Sitharaman announced in her budget speech that financial assistance will be provided for shrimp farming. She mentioned that financial support will be given to set up a network of nucleus breeding centers for shrimp growth. Financing for farming, processing, and export will be facilitated through NABARD.
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