Food processing stocks rally as government to double Budgetary allocation

Avanti Feeds, Godrej Agrovet, Sheetal Cool Products, Foods & Inns, Freshtrop Fruits, Amrit Corp and Sampre Nutritions were up in the range of 5% to 14%.

Shares of companies engaged in food processing business have rallied up to 14% on BSE in intra-day trade after the Finance Minister Arun Jaitely in Budget speech said that the allocation to the Food Processing Ministry is being doubled to boost the sector.

Avanti Feeds has surged 14% to Rs 2,544 on BSE on back of three-fold jump in trading volumes. Godrej Agrovet, Sheetal Cool Products, Foods & Inns, Freshtrop Fruits, Amrit Corp and Sampre Nutritions were up in the range of 5% to 8%. On comparison, the S&P BSE Sensex was up 0.35% at 36,091 at 12:00 PM.