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.
India’s manufacturing sector underperforms compared to China and South Korea, partly due to public sector wages that raise costs and reduce competitiveness.
Non-Resident Indians (NRIs) from the Gulf Cooperation Council (GCC) region, once prominent investors in the Indian equity market are seen shying away due to rupee depreciation and have moved to global funds, said a top financial services executive.
Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.
In one more instance of a wholly owned subsidiary of a Chinese multinational company in India getting ‘Indianised’, Bharti Enterprises, a diversified business conglomerate with interests in telecom, real estate, financial services and food processing among others, and the local arm of private equity major Warburg Pincus have announced to collectively own a 49% stake in Haier India, a subsidiary of the Haier Group which is headquartered in Qingdao, Shandong, China.
Indian stock markets closed lower amid volatility, with key firms lagging as global trends influenced trading activity.
Bharti and Warburg Pincus invest in Haier India, acquiring a 49% stake to enhance growth and innovation in consumer durables.
India's net FDI remains negative for October 2025, with outflows surpassing inflows amid trade deal uncertainties.
Bombay High Court halts fraud notices to Anil Ambani, questioning banks' compliance and the audit's validity.
Explore the key business events that defined India in 2025, from trade wars to regulatory reforms and corporate expansions.
The rarely-used eight-unit Fisk power plant owned by Houston-based NRG Energy was scheduled to retire next year. But then came from artificial intelligence.
The rupee gains 12 paise to 89.51 against the U.S. dollar, buoyed by RBI's liquidity support.
In a recent conversation with Dwarak Rajagopal, Head of AI Research at Snowflake, what stood out was not optimism or scepticism, but maturity.
Explore how India's export landscape is increasingly dominated by a few states, revealing regional disparities and structural challenges.