Govt to double allocation for food processing firms, stocks surge up to 15%

Food processing companies soared up to 10 per cent after Finance Minister Arun Jaitley announced that the government will double allocation towards food processing companies.

Cheering the announcement, shares of Avanti Feeds were trading nearly 15 per cent up at Rs 2,542 at around 11.30 am. Freshtrop Fruits was up 6 per cent at Rs 161.25 at around the same time.


The BSE Sensex rallied 185 points, or 0.52 per cent, to 36,150 at around the same time.

Apex Frozen was up 5 per cent at Rs 663.80.

The food processing sector is growing at 8 per cent. Allocation for food processing ministry is being doubled to Rs 1,400 crore, the FM said.