US signals anti-dumping duty hike on Indian shrimps; Avanti Feeds, Apex Frozen slip

NEW DELHI: Shares of Avanti Feeds, Waterbase, and Apex Frozen Foods were trading lower in the late morning deals after reports that the US, the biggest market for Indian seafood, signalled anti-dumping duty hike on Indian shrimps.

Avanti Foods was trading 2.87 per cent down at Rs 2,290 at around 11.08 am (IST), while Apex Frozen Foods was down 0.73 per cent at Rs 648.50 at the same time.

Waterbase was trading 3.27 per cent down at Rs 265, whereas benchmark BSE Sensex was up 316 points, or 0.95 per cent, at 33,623.


US Department of Commerce has suggested an increase in anti-dumping duty on Indian shrimps to 2.34 per cent from 0.84 per cent, according to a report by Bloomberg.

Multibagger Avanti Feeds scaled its fresh 52-week high of Rs 3,000 on November 13, 2017 and 52-week low of Rs 692 on March 22, 2017.

Waterbase hit a 52-week high of Rs 417.50 on January 2, 2018 and 52-week low of Rs 83 on March 10, 2017, whereas Apex Frozen Foods hit 52-week high of Rs 941.40 on December 7, 2017 and 52-week low of Rs 195 on September 4, 2017.