India's Avanti Feeds, Costal Corp surge on rise in budget allocation for fisheries

Coastal

01/02/2023 06:48

** Shares of seafood companies Avanti Feeds Ltd  AVNT.NS 
and Coastal Corporation  COAS.NS  up 6.1% and 13.4% respectively
after Finance Minister Nirmala Sitharaman announced plan to
raise spending in fisheries sector on Wednesday 
    ** AVNT rises as much as 8.3% to 417 rupees to hit highest
level since Nov 21, 2022, while COAS rises as much as 14% at 227
rupees
    ** Fisheries a key focus area under Prime Minister Narendra
Modi’s “Blue Revolution” plan 
    ** Govt to launch a sub-scheme under Blue Revolution plan
with an outlay of 60 bln rupees ($733.41 million) to enable the
sector: Finance Minister
($1 = 81.8100 Indian rupees)
 (Reporting by Yagnoseni Das in Bengaluru)
 ((yagnoseni.das@thomsonreuters.com))