Shares of Sarveshwar Foods Ltd soared 9% on 9 September after the company announced a strategic alliance with certain Non-Banking Financial Companies (NBFCs) to strengthen financial support for farmers and bring about reforms within the agricultural sector. 

Sarveshwar Food will act as a mediator in the proposed agreement, facilitating communication between NBFCs and farmers. Without recourse to the organisation, the loan agreements will be handled exclusively between the farmers and the NBFCs.

Farmers will have better access to money through these partnerships’ increased financial support, which will include operating cash and improvements in agricultural infrastructure. In order to increase productivity and lower post-harvest losses, financial resources will be allocated toward improving infrastructure, including as irrigation systems and storage facilities.

Additional financial management advice and technical assistance to improve farming techniques will be beneficial to farmers. 

The company added, “The initiative aims to drive sustainable agricultural practices and ensure long-term stability and growth within the sector.”

A US FDA-certified corporation, Sarveshwar Foods manufactures, trades, processes, and promotes branded and non-branded basmati rice in domestic and foreign markets. The organisation’s headquarters are in Jammu.

At 12:11 pm, the shares of Sarveshwar Foods were trading 9.81% higher at Rs 10.63 on NSE.

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