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Avanti Feeds and Apex Frozen Foods shares surged nearly 8 percent each on Thursday, emerging among the top smallcap gainers after a UAE delegation expressed interest in importing shrimp and other aquaculture products from Andhra Pradesh. The development has raised expectations of fresh export opportunities for the state's seafood industry.
Avanti Feeds shares climbed 7.8 percent to Rs 759 apiece in afternoon trade, while Apex Frozen Foods gained 7.7 percent to Rs 351. Both companies have significant exposure to the shrimp and aquaculture industry.
The rally came after Andhra Pradesh Chief Minister N Chandrababu Naidu met UAE Minister of Economy and Tourism Abdullah bin Touq Al Marri in Visakhapatnam on Wednesday to discuss investment opportunities across food processing, agriculture and other sectors.
The discussions assume significance for the state's seafood industry, given Andhra Pradesh's position as a major centre for shrimp farming and aquaculture in India.
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UAE interest in Andhra Pradesh's food processing sector
During the meeting, Naidu highlighted the state's potential in the procurement, processing and export of agricultural and food products. The chief minister also invited UAE-based agri-food company Silal to participate in a proposed food cluster in the state.
The UAE delegation indicated that 12 additional companies from the country had expressed interest in investing in the proposed food cluster, according to the official release. Naidu urged the UAE minister to facilitate an early decision on the project. Meanwhile, the UAE minister expressed interest in investing along India's eastern coastline, with Andhra Pradesh as a potential destination.
While the UAE's interest in shrimp imports could open up additional export opportunities for the aquaculture industry, the discussions remain preliminary, with no specific import agreements or purchase commitments announced.
Avanti Feeds, Apex Frozen Foods: Stock performance
Avanti Feeds, which operates in shrimp feed manufacturing and seafood processing, has seen its shares decline 13.6 percent so far in 2026, despite Thursday's sharp gains. The company's market capitalisation stood at approximately Rs 10,300 crore.
Apex Frozen Foods, which is engaged in processing and exporting shrimp products, has performed considerably better this year. Its shares have gained around 21 percent year-to-date, outperforming the benchmark Nifty 50, which has declined 3.4 percent over the same period. Apex Frozen Foods had a market capitalisation of approximately Rs 1,097 crore.
Both companies are closely linked to the shrimp industry, although their business models differ. Avanti Feeds has substantial exposure to shrimp feed demand, alongside its seafood processing operations, while Apex Frozen Foods is more directly involved in shrimp processing and exports.
