Wardwizard Foods Inks MoU with Gujarat Government, Sparks Surge in Shares

Wardwizard Foods and Beverages Limited experienced a substantial 9.98 percent increase in its shares following the formalization of a memorandum of understanding (MoU) with the government of Gujarat. The agreement, 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, outlines the company's strategic plans for expansion in Gujarat.

According to the MoU, Wardwizard aims to enhance its operations in the state with a particular focus on the production of ready-to-eat foods, mayonnaise sauce, frozen foods, and more. The ambitious initiative entails a significant investment of Rs. 500 crore.

Sheetal Bhalerao expressed the broader significance of the collaboration with the government of Gujarat, emphasizing that it extends beyond food manufacturing to reshape the economic landscape of the state. Bhalerao expressed confidence that this partnership will not only contribute to sustained economic growth but also generate 750 employment opportunities in the foreseeable future.

HBL