Apex Frozen Foods Ltd shares gained as much as 7 percent as an immediate effect of key Union Budget 2025 announcements on the fisheries sector, on Saturday, February 1.
Apex Frozen Foods Ltd shares are currently trading at 258.70 with a gain of 5.51 percent, at at 11:40 am.
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The Union Budget in its key announcement for the fisheries sector mentions implementation of sustainable harnessing of fisheries from Indian exclusive economic zones and high seas. Herein, a special focus will be put on the Andaman and Lakshwadeep islands.
As a part of the announcement, a key development was shared on loan limit with modification of interest subvention scheme. Therefore, it will be raised to Rs 5 lakh from Rs 3 lakh for farmers and fisherfolk, the finance minister added.
Currently, India's seafood exports are valued at Rs 60,000 crore, as highlighted by Finance Minister Nirmala Sitharama. India ranks the second largest in fish production and aquaculture.
The financial performance of the aquaculture sector was quite sluggish for since some time because of stiff competition in international markets. While Apex Frozen Foods faced declines on the operational margin front, last year, the currents et of schemes and incentives announced in the Union Budget will act as some boosters going ahead.
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