Food processing stocks jump as FM doubles allocation to sector

Shares of two food processing companies rose by 5% to 8.64% at 12:00 IST after the finance minister Arun Jaitley in the budget 2018-19 doubled allocation towards the sector.

Meanwhile, the S&P BSE Sensex was up 117.36 points or 0.33% at 36,082.38.

Avanti Feeds (up 8.64%) and Apex Frozen Foods (up 5%) gained.

Finance minister Arun Jaitely said that food processing sector is growing at 8% per annum and the allocation for the sector has been doubled to Rs 1400 crore in 2018-2019. Finance Minister proposed to extend Kisan credit card to fisheries & animal husbandry farmers.

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