Kings Infra Ventures zooms ~8% as it is set to close major export deals with US, Japan & China

19 Jul 2023 , 11:22 AM

Kings Infra Ventures Ltd announced that it expects increased export demand this year. The company has also formed strategic alliances with stakeholders in the aquaculture farming and shrimp export value chains.

Following this development, the company’s counter surged as much as 8%.

At around 11.09 AM, King Infra Ventures was trading 8.45% higher at Rs 113, against the previous close of Rs 104.20 on NSE.

“The collaboration with the US company is for the provision of roughly 100 containers of IQF shrimp, which we see as a very beneficial step. For the first time, we will be able to introduce our shrimps to the United States. The United States is the largest market for Indian shrimp exports, and we believe that the new partnership will allow us to get more traction in the largest market,” said Shaji Baby John, Chairman and Managing Director of Kings Infra.

Kings Infra, which registered a 93% increase in PAT in FY 2022-23, has also partnered with the Atomes Group of Canada to promote antibiotic-free, sustainable, and traceable aquaculture. The company also formed a strategic alliance with Snowkap, a global leader in providing solutions to achieve Environmental, Social, and Governance (ESG) goals and reduce Green House Gas (GHG) emissions.

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