Avanti Feeds, Apex Frozen and other shrimp stocks surge up to 20% after India–US trade pact
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Shares of export-focused shrimp companies such as Avanti Feeds and Apex Frozen Foods surged up to % in Tuesday’s trading session, witnessing strong buying after India and the United States signed a trade deal late Monday night. The agreement was announced by US President Donald Trump and Prime Minister Narendra Modi. Avanti Feeds shares rose 20% to an intraday high of Rs 960 apiece on the NSE, whereas Apex Frozen Foods rose 19.9% to Rs 352.30 apiece. Shares of Coastal Corporation Limited jumped nearly 5% to clock an intraday high of Rs 48.14 apiece on the NSE. Under the agreement, Indian exports to the US will now attract an 18% tariff, sharply lower than the 50% levy imposed earlier after Donald Trump claimed India would stop buying Russian oil. In return, India will move forward with cutting its tariff and non-tariff barriers on US goods to zero. Shrimp stocks had borne the brunt of selling since the announcement of reciprocal tariffs ...