Wardwizard Foods signs MoU with Gujarat govt; shares surge

Wardwizard Foods and Beverages Limited’s shares were up by 9.98 per cent after the company entered into a memorandum of understanding with the government of Gujarat. The agreement was signed by DH Shah, Managing Director of Gujarat Agro Industries Corporation Limited, and Sheetal Bhalerao, Chairperson and Managing Director of Wardwizard Foods and Beverages Limited.

The MoU outlines Wardwizard’s plans to expand its operations in Gujarat, focusing on the production of ready-to-eat foods, mayonnaise sauce, frozen foods, and more. The initiative involves investment of Rs 500 crore.

Also read: Wardwizard Foods and Beverages launches energy drink, shares up

Bhalerao said, “This partnership with the government of Gujarat isn’t just about food manufacturing; it’s about reshaping Gujarat’s economic landscape. We are confident that this collaboration will pave the way for sustained economic growth, generating 750 employment opportunities in the foreseeable future.” 

The shares were up by 9.98 per cent to Rs 32.96 at 12.32 pm on the BSE.

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