Wardwizard Foods and Beverages Ltd’s shares hit a 52-week high after the Vadodara-based company inked a Memorandum of Understanding (MoU) with the Government of Gujarat. The MoU highlights the company’s commitment to expand its operations in Gujarat. 

Shares of Wardwizard Foods and Beverages hit an intraday high of Rs 32.96, up 9.8% from the previous close price on the National Stock Exchange (NSE). The scrip closed 6.44% higher at Rs 31.90. 

The signing ceremony on December 13, 2023, involved the Managing Director of Gujarat Agro Industries Corporation Ltd, DH Shah, and the Chairperson and Managing Director of Wardwizard Foods and Beverages Ltd, Sheetal Bhalerao.

Sheetal Bhalerao said that partnership with the Government of Gujarat is about reshaping Gujarat’s economic landscape. The company plans to invest Rs 500 crores in this visionary project, fostering substantial growth opportunities and is expected to generate over 750 employment opportunities in the foreseeable future.

Wardwizard Foods And Beverages specialises in authentic Indian flavours and innovative, high-quality products like ready-to-eat foods, mayonnaise sauce, frozen foods, and more. The company has 3 manufacturing sites and markets its products in 11 states in India.