This is the biggest single-day gain for the stock since July 2021.
The European Union, on Tuesday, approved 102 new Indian fishery establishments for exports, in a move, that could add the number of Indian export establishments in terms of volumes by 16%.
The listing of these units by the European Union was a long-standing pending demand of India.
Apex Frozen Foods saw an increase in the contribution from the European Union to its overall topline. In financial year 2025, the European Union contributed 39% to Apex Frozen’s topline, higher than the 26% in financial year 2024. The company stated that it witnessed robust demand from the EU during the year and it continues to strengthen its presence in that market.
Nitin Avasthi of InCred told CNBC-TV18 that the European Union has been a problem spot for India in the past and that this move will greatly benefit shrimp processing companies like Apex Frozen, Avanti Feeds and Coastal Corporation. He also expects an improvement in margins of these companies in financial year 2027.
Shares of Apex Frozen Foods are trading 19.2% higher on Wednesday at ₹261.45. The stock now trades close to its 52-week high of ₹281.7. With this move, the stock has also nearly reversed its losses on a year-to-date basis.
As many as 62 lakh shares of Apex Frozen Foods have already changed hands in the first two hours of the trading session, compared to a 50-day average of just over 50,000 shares.
