FMCG Stock Gains On Signing MoU For Business Expansion In Uttarakhand

Following the company's endeavour for business expansion in Uttarakhand, Prime Fresh's shares began Friday morning on the BSE at Rs 306.00 each and were trading 0.48% higher at Rs 304 during the early trades.

Over the last few years, team Prime Fresh Limited has been aggressively seeking to expand its business in the state of Uttarakhand, visiting numerous cities, villages, and talukas.

In a one-on-one meeting with the official on November 1, 2023, it filed an MOU for investment in the state of Uttarakhand for entire Agri Value Chain ecosystem.

"Prime Fresh Limited, its associate group companies & its partners or any such new companies propose to Invest Rs.33-40 cr (Thirty three to fourty Crores) in the State of Uttarakhand over the coming 5 years to establish various value chain, end to end Agri Business Operations related projects," said the company in the MoU.

"Prime Fresh is working on various initiatives and new projects in Fruits and vegetables supply chain Business from Agriculture Inputs Selling, Farming, Post harvest management to Market linkages & Food processing, value additions and Direct to Consumer projects.

PFL is always keen to work for the betterment of our country and strongly believes in "One Nation One Vision". Prime Fresh is looking forward to collaborate & work very closely with Uttarakhand Government, Horticulture departments, Agro Board and other such Institutions," said the company in a stock exchange filing.

"Prime Fresh Limited-Ahmedabad, is looking forward to policy support, land allocation and working to identify land, food parks, waste lands and any such enablers.

Management of Prime Fresh Limited is willing to meet and discuss their Vision and projects at right levels across all departments, institutions, authorities and decision makers to understand support, directions & Possible Resources allocation required," the company stated in the MoU.

The scrip reached a 52-week-high of Rs 332.00 on (23/11/2023) and a 52-week-low of Rs 185.10 on (02/05/2023).