Emami to enter food and beverages sector

Emami is planning its foray into the food and beverages (F&B) sector in a big way starting with its entry into the branded edible oil market. The company launched the 'Healthy and Tasty' branded edible oil manufactured by Emami Biotech at the company's Haldia refinery in West Bengal. The brand would be available in variants like soyabean oil, sunflower oil, palmolein, mustard oil, soyabean blend and palmolein blend. The company plans to clock a turnover of Rs300 crore from the edible oils business. The company was in the process of setting up two more refineries in Gujarat and Andhra Pradesh involving an investment of around Rs1,060 crore. It also plans to produce many items which are needed in the kitchen like masala and biscuits. The stock is currently trading at Rs552 up by 3.60% with a volume of 16k shares on the BSE.