Shares of Apex Frozen Foods Ltd fell sharply on Thursday, August 28, dropping 5.79% to ₹216.09 after the U.S. announced a steep increase in tariffs on Indian imports. The stock, which closed at ₹229.38 in the previous session, hit an intraday low of ₹214.36 before stabilizing.
The decline comes a day after U.S. President Donald Trump’s additional 25% tariff came into effect on August 27, taking the total duty on Indian imports to as high as 50%. Since Indian markets were shut on August 27 for Ganesh Chaturthi, the impact of the move was fully visible in today’s trade.
Stock details:
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Day Range: ₹214.36 – ₹224.89
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Market Cap: ₹6.77 billion
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P/E Ratio: 73.64
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Avg Volume: 199.88K
The latest tariff makes Indian shrimp and textile exports far less competitive compared to peers. Bangladesh and Vietnam face only 20% U.S. tariffs, while China’s stand at 30%. This sharp disparity could shift orders away from India, impacting export-oriented companies like Apex Frozen Foods.
Analysts caution that the move may squeeze margins further, especially for shrimp farmers in Andhra Pradesh, which contributes nearly 70% of India’s shrimp exports.
