Wardwizard Foods and Beverages jumps over 8% today; here’s why

MoU with the Government of Gujarat 

Wardwizard Foods and Beverages has signed a Memorandum of Understanding (MoU) with the Government of Gujarat, marking a pivotal moment in the expansion of food manufacturing capabilities in the state. Under this agreement, the company plans to further expand operations across Gujarat, aiming to broaden its production of Ready-to-Eat foods, Mayonnaise sauce, Frozen Foods, and more. This visionary project is poised to catalyze an investment of Rs 500 crore, fostering substantial growth opportunities in the area.

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 per the state’s policies and regulations. This strategic alliance epitomizes the company’s unwavering commitment to innovation, excellence, and community development.

Company profile

Wardwizard Foods & Beverages (formerly known as Vegetable Products) is engaged in the manufacturing of vegetable edible oil products under the ‘PRATAP VANASPATI’ brand name. Wardwizard Foods And Beverages Limited is one of the leading food businesses based in Gujarat, specializing in authentic Indian flavours 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 QuikShef and Snack Buddy.

Stock price movement

On Thursday, the stock opened at Rs 30 and touched a high and low of Rs 32.96 and Rs 29.38, respectively. The BSE group ‘X’ stock of face value of Rs 1 has a 52-week high and low of Rs 49.90 and Rs 19.50, respectively. Last week, the high and low of the scrip stood at Rs 32.96 and Rs 28.20, respectively. The current market cap of the company is Rs 806.46 crore.  The promoters holding in the company stood at 52.82%, while Non-Institutions held a 47.18% stake in the company.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.