FMCG Stocks Jump As Govt Approves Rs 1.52 Lakh Crore For Agri And Allied Sectors

Leading FMCG stocks witnessed rally in trade on Tuesday after Finance Minister Nirmala Sitharaman approved Rs 1.52 lakh crore for agri & allied sectors as she presented Budget 2024-25 today. The Finance Minister said the government will undertake a comprehensive review of the agricultural research setup to enhance productivity and develop climate-resilient varieties.

Our government will undertake a comprehensive review of the agriculture research set-up to bring the focus on raising productivity and developing climate resilient varieties," said Nirmala Sitharaman. She declared that farmers will soon have access to approximately 109 new high-yielding, climate-resilient varieties across 32 field and horticulture crops.

Nirmala Sitharaman also declared that Rs 2.66 lakh crore has been allocated for rural development, including rural infrastructure. In a big push for employment, skilling and other opportunities, the finance minister announced an outlay of Rs 2 lakh crore for several schemes targeting 4.1 crore youth, according to a PTI report.

Shares of ITC gained nearly 5% in trade today on BSE. Current market price of ITC share on BSE is Rs 492.05 per share with gain of 5.52% in trade on July 23. ITC Ltd share zoomed over 17% in last 1-month and rose 64% in last 2-years.

Heritage Foods shares surged 5% in trade today and hit upper circuit as well. Current market price of Heritage Foods shares on BSE is Rs 574.70 per share. Heritage Foods shares 83% in last 6-months and 114% in last 1-year. Vadilal Industries shares surged over 4% on BSE to 4292.85 per share. Vadilal Industries share gave return of 71% year-to-date and rose 307% in last 3-years.

LT Foods jumped 3.73% in trade today on BSE. LT Foods share price on BSE is Rs 295.85 per share. LT Foods shares offered return of 221% in last 2-year and 1386% in last 5-years. Godrej Consumer Products shares offered return of 3.25% in trade today.

Current market price of Godrej Consumer Products share on BSE is Rs 1518.45 per share. Godrej Consumer Products shares zoomed 44% in last 1-year.

Meanwhile, Dabur India shares soared 3.25% in trade today on BSE. Current market price of Dabur India share on BSE is Rs 654.00 per share. Dabur India shares offered return of 29% in last 3-months and rose 16% in last 1-year. Hindustan Unilever Ltd shares rose 1.17% to settle at Rs 2766.50 per share. HUL shares rose 2.86% in last 1-week and 6.25% in last 1-year.