Food Financial News

₹65.88 crore initial public offering (IPO) of small and medium-sized enterprise M.V.K. Agro Food Product opened for subscription today, Thursday, February 29, 2024. The issue, which will close on Monday, March 4, has a price of ₹120 per share.

JHS Svendgaard Laboratories Ltd.(up 5.00%), Dangee Dums Ltd.(up 2.19%), Godrej Consumer Products Ltd.(up 1.92%), Tata Consumer Products Ltd.(up 1.90%), Britannia Industries Ltd.(up 1.59%), LT Foods Ltd.(up 1.36%), Colgate-Palmolive(India)Ltd.(up 1.21%), Nestle India Ltd.(up 0.99%), ADF Foods Ltd.(up 0.93%) and Dodla Dairy Ltd.(up 0.90%) stood among the top gainers.

DDA) offered temporary accommodation to Wakeel Hassan, a rat-hole miner celebrated for his role in the Silkyara tunnel rescue operation. This offer came shortly after his house was demolished in a DDA-led drive. However, Hassan declined the offer, stating that the assurance was only verbal. Despite the demolition, Hassan and his family refused to move into temporary accommodation and spent the night on a footpath, supported by their neighbors' generosity. DDA Offers Temporary Accommodation Following the demolition of his house in a DDA-led drive, Wakeel Hassan was offered temporary accommodation by the Delhi Development Authority (DDA). This offer was extended to him and his family after their house was razed during a demolition drive in northeast Delhi's Khajoori Khas area. Despite the offer, Hassan declined, citing the verbal nature of the assurance.

By Gloria Dickie and Lisi Niesner

Pakistan’s voters expressed their disillusionment with the nation’s powerful military in a surprising election result earlier this month. But the army is still poised to have more control from behind the scenes than ever — and reviving the economy will be its ultimate test. The military, which has ruled Pakistan directly or indirectly for most of its modern history, is set to make all important decisions on foreign policy and security for the country’s new government and have a more expanded role in running the nation’s economy, a person familiar with the matter said. Shehbaz Sharif, who’s expected to become prime minister, is likely to be only a figurehead, the person said, asking not to be identified because the information is private. The army is consolidating power as Pakistan faces the worst inflation in Asia, a crippling debt load and the need to negotiate another bailout from the International Monetary Fund. Observers are largely pessimistic that a weak coalition propped up by the military will fare any better than similar governments in the past.

SME IPO of MVK Agro Food Product opened for subscription today and will close on March 4. The company aims to raise Rs about Rs 66 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue. 1) About MVK Agro Food Product MVK Agro is an integrated sugar and other allied products manufacturing company operating from Nanded in Maharashtra. It operates a single location sugar unit having licensed crushing capacity of 2,500 TCD. In addition to sugar, the company also commercialises and sells its by-products and waste products, namely, Molasses, Bagasse and Pressmud.

By Jonathan Stempel

ALSO READ: From Mela Rouge to Hashtakshar: Itinerary of Anant Ambani-Radhika Merchant pre-wedding festivities in Jamnagar According to details, food will be served to about 51 thousand residents which will continue for the next few days. As part of the pre-wedding festivities, the Ambani family organized Anna Seva to seek the blessings of the local community.

NEW DELHI : After Bharat atta and rice, the Union government is planning to launch Bharat masur (lentil) dal – but, at around ₹89 per kg, without a discount – a senior official told Mint. Normally the Bharat brand comes with hefty discounts. The lentil pricing comes despite inflation being in control and with huge quantities of masoor lying in government stocks.

Climate change may be causing more competition for food in oceans, leading to a reduction in the weight of fish, according to a study. Researchers at the University of Tokyo in Japan found that fish weight in the western North Pacific Ocean dipped in the 2010s due to warmer water limiting food supplies. They attributed the first period of weight loss to greater numbers of Japanese sardines, which increased competition with other species for food. «With higher temperatures, the ocean's upper layer becomes more stratified, and previous research has shown that larger plankton are replaced with smaller plankton and less nutritious gelatinous species, such as jellyfish,» Professor Shin-ichi Ito from the University of Tokyo said.

The husband of a New York City doctor has filed a lawsuit against Walt Disney World, alleging that his wife died after she ate a meal that restaurant staff assured her was allergen-free.

Asked how he went bankrupt, a character in Ernest Hemingway’s The Sun Also Rises answers, “Two ways. Gradually and then suddenly.” He was talking about how financial collapse happens but he was also foretelling Canada’s economic future if Steven Guilbeault, minister of environment and climate change, continues to foist his destructive lunacy on Canadians. Not only does his environmental extremism impoverish us, it undermines our democratic freedoms.

Euro India Fresh Foods Ltd.(up 4.87%), Umang Dairies Ltd.(up 4.60%), Gillette India Ltd.(up 1.00%), Hindustan Unilever Ltd.(up 0.68%), Jyothy Labs Ltd.(up 0.41%), Dabur India Ltd.(up 0.13%) and Marico Ltd.(up 0.02%) stood among the top gainers.

Private equity firm Lighthouse Funds, which has backed consumer brands such as Bikaji Foods, Wow Momos and Nykaa, has invested Rs 284 crore (around $34 million) in fashion and silver jewellery brand Kushal’s. The investment round also includes a secondary buyout, allowing a partial exit for Kushal’s first institutional investor, India SME Investments.

Zomato, along with many new-age stocks, garnered significant investor interest during its stock market debut in 2021. However, the initial excitement has dwindled, with many of these stocks currently trading below their IPO prices. Nonetheless, Zomato turned PAT positive in Q1FY24, ahead of schedule and the first one to do so.

The European Union is on the brink of approving a major plan to fight climate change and better protect nature in the 27-nation bloc after protests from farmers and opposition from the biggest party in parliament led it to be diluted

Patanjali Foods fell by 4.13% to ₹1,555 apiece in today's early morning trade after the Supreme Court on Tuesday served a contempt notice to Ramdev-owned Patanjali Ayurved and its managing director Acharya Balakrishna for going back on their promise to not make "misleading claims" in advertisements for its medicines. Also Read: SC slaps contempt notice on Patanjali Ayurved for misleading ads The apex court also barred Patanjali from promoting products claimed to cure diseases such as heart ailments and asthma.

Wipro to ‘Sell’ on unattractive risk-reward and has revised the target price on the stock to ₹440 per share from ₹430 earlier, following a sharp 34% stock upmove in the past three months. It believes Wipro stock is expensive at 21X FY2026E earnings and trades at just 6-9% discount to Infosys and HCL Technologies despite significantly weaker fundamentals. Also Read: Vodafone Idea share price falls over 4% after board approval to raise ₹45,000 crore “Wipro has materially underperformed peers such as Infosys and HCL Technologies on growth in the past several years and yet commands hefty multiple of 21X FY2026E earnings, at just a 6-9% discount.

Vodafone-Idea, Patanjali Foods, CMS Info Systems, ZEEL, Hindustan Zinc, are some stocks likely to be in focus in today's trading session.Sensex Today Live : The trends on Gift Nifty indicate a flat to positive start for the Indian benchmark index. The Gift Nifty was trading around 22,235 level as compared to the Nifty futures’ previous close of 22,196.On Tuesday, the Indian stock market indices rebounded from a two-day correction and ended higher.The Sensex gained 305.09 points to close at 73,095.22, while the Nifty 50 settled 76.30 points, or 0.34%, higher at 22,198.35.Nifty 50 formed a reasonable positive candle on the daily chart that has engulfed the small negative candle of Monday.“Technically, this market action is signaling a bullish engulfing pattern.

Vodafone-Idea: Cash-strapped private telecom operator, Vodafone-Idea, on Tuesday saw its board approve a ₹45,000-crore fund raising initiative—including a ₹20,000 crore equity-based fund raise from existing investors. A shareholder meet for the fund raise is expected to take place on 2 April, post which the operator expects to complete the equity fund raise by the end of the upcoming June quarter.

Two of the biggest grocery chains in the United States had hoped to complete the largest supermarket merger in the country’s history this year