The share price of this leading food and beverage company rose 10 percent to Rs 32.96 per share after the company signed a MoU with the Gujarat Government for Gujarat’s Economic Growth in Food Manufacturing.
Wardwizard Foods & Beverages Ltd is a micro-cap stock with a market capitalization of Rs 809 crore. In the last month, the stock has gained 16 percent.
According to the company’s exchange filing, Wardwizard Foods and Beverages Limited signed a Memorandum of Understanding (MoU) with the Government of Gujarat.
This MoU expands company operations across Gujarat, aiming to broaden their production of Ready-to-Eat foods, Mayonnaise sauce, Frozen Foods, and more. This project is poised to catalyze an investment of Rs 500 crores to Generate 750+ employment opportunities in Gujarat.
The MoU underscores the commitment of both entities to promoting industrial development and employment generation. The Government of Gujarat has pledged unwavering support in facilitating all necessary permissions, registrations, approvals, and clearances required for this venture by the state’s policies and regulations.
The company’s revenues have increased by 190 percent year on year from Rs 1.29 crore in Q2FY23 to Rs 3.80 crore in Q2FY24, while net profit declined in the same period, from Rs 0.13 crore to a loss of Rs 7.29 crore.
The company has three manufacturing sites and markets its products in eleven Indian states.
Wardwizard Foods And Beverages Limited is one of the leading food businesses based in Gujarat, specializing in authentic Indian flavors and innovative high-quality products and services. Their offerings include frozen foods, ready-to-eat foods, beverages, sauces, mayonnaise, and refreshing beverages under flagship brands like
At the time of writing this report, Wardwizard Foods And Beverages shares were trading at Rs 32.64 per share, up 8.91 percent from the previous close price.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
