Budget 2024: Shares of shrimp products makers in heavy demand after Budget allocation
The Hindu
Finance Minister boosts seafood industry with funding for shrimp farming and marketing, leading to stock surges for key companies.
Shares of producers and exporters of seafood products' firms jumped on July 23 after Finance Minister Nirmamala Sitharaman said the government will provide finance for shrimp farming and marketing.
Presenting the Union Budget for 2024-25, Sitharaman said that the government has reduced the basic customs duty on shrimp to 5%.
Also Read: Union Budget 2024 LIVE Updates
The stock of Zeal Aqua soared 9.27%, Kings Infra Ventures surged 8.15%, Coastal Corp climbed 7.55%, Apex Frozen Foods zoomed 7.51% and Waterbase jumped 5.51% on the BSE.
The government will bring a National Cooperation Policy for the overall development of the country, the finance minister said.
She said the Centre will promote digital public infrastructure for agriculture in partnership with states, while the Jan Samarth-based Kisan Credit Card scheme will be introduced in five states.
Also, the government will provide finance for shrimp farming and marketing, she added.
Equity market benchmarks Sensex and Nifty rise on strong domestic data and global trends, led by ICICI Bank and Reliance: Follow The Hindu’s updates on the Sensex and Nifty
Scopely will pay $3.5 billion to acquire Niantic’s game unit, including the studio behind Pokemon Go.
Follow The Hindu’s updates on the rupee : Mumbai forex analysts report on rupee's gains against the dollar amid global tariff tensions and economic data.
The U.S. Federal Trade Commission is moving ahead with an antitrust probe of Microsoft, Bloomberg News reported.
Intel hires semiconductor industry veteran Lip-Bu Tan as CEO to revive struggling company amid leadership changes and financial challenges.
Nandan Nilekani predicts India as top IPO market by 2035 with 1 million startups and $8 trillion economy potential.
BNW Developments partners with Taj to bring luxury living to UAE's Al Marjan Island, Ras Al Khaimah.
Equity indices Sensex and Nifty close lower amid global economic concerns, with IT and telecom stocks leading the decline.
Rupee closes at 87.19 against US dollar amid tariff uncertainties, crude oil prices, and global market volatility.
NCLAT rejects IRDA pleas against Shriram Group insurance arm mergers, citing no statutory bar under Insurance Act.
TIVOLT Electric Vehicles inaugurates e-SCV manufacturing plant in Chennai with high-performance EVIATOR for sustainable transportation solutions.
Vedanta Ltd repays high-cost loan, reduces debt, and strengthens balance sheet with refinancing package and improved terms.
Equity benchmark indices Sensex and Nifty climbed in early trade on Wednesday (March 12, 2025) but soon turned flat due to highly volatile global trends amid uncertainties over trade tariff.