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Food processing stocks rally as government to double Budgetary allocation

Avanti Feeds, Godrej Agrovet, Sheetal Cool Products, Foods & Inns, Freshtrop Fruits, Amrit Corp and Sampre Nutritions were up in the range of 5% to 14%.

SI Reporter  |  Mumbai 

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Shares of companies engaged in food processing business have rallied up to 14% on in intra-day trade after the Finance Minister Arun Jaitely in speech said that the allocation to the Food Processing Ministry is being doubled to boost the sector.

has surged 14% to Rs 2,544 on on back of three-fold jump in trading volumes. Godrej Agrovet, Sheetal Cool Products, Foods & Inns, Freshtrop Fruits, and were up in the range of 5% to 8%. On comparison, the S&P Sensex was up 0.35% at 36,091 at 12:00 PM.

“Allocation to the Food Processing Ministry is being doubled to boost Food Processing; specialised agro-processing and financial institutions to be promoted by government,” the Finance Minister Arun Jaitley said in speech.

The allocation for associated food processing activities doubled to Rs 14 billion. This would support ancillary food processing activities and complement the existing players in the food processing industry.

COMPANY LATEST PREV CLOSE GAIN(%)
AVANTI FEEDS 2411.00 2223.95 8.4
SHEETAL COOL 131.00 121.55 7.8
FOODS & INNS 1380.00 1292.80 6.8
FRESHTROP FRUITS 160.50 151.75 5.8
GODREJ AGROVET 600.30 571.00 5.1
AMRIT CORP 1367.10 1302.00 5.0
SAMPRE NUTRITION 72.50 69.05 5.0
SANWARIA CONSUM. 24.55 23.40 4.9
MANPASAND BEVER. 395.95 377.50 4.9
UMANG DAIRIES 100.75 96.80 4.1
FLEX FOODS 136.00 130.80 4.0
ADF FOODS 279.40 270.45 3.3

First Published: Thu, February 01 2018. 12:06 IST
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