Future Consumer on the rise

There has been a lot of activity on the counter of Future Consumer Enterprise, previously known as Future Ventures, since past couple of days, with the stock hitting a new high yesterday at Rs.12.58 and another new one today at Rs.13.59, with volumes rising over 2.10 times.

The stock is reacting to news that operations at company's 110 acre food park facility at Tumkur, Karnataka could begin operations before the end of this month. This food park, known as Integrated Food Park Private Ltd (IFPPL) is a Public Private Partnership (PPP) project which has been approved by the Ministry of Food Processing Industry (MFPS) to set up Mega Food Park (MFP) in Karnataka with Future Group’s flagship Future Retail, Capital Foods (a previous portfolio firm of Future Consumer) and Bangalore-based Salarpuria Group’s real estate firm Sattva as its promoters.

Future Consumer Enterprise Limited is part of Future Group and is engaged in the business of food and FMCG brands, Urban and Rural distribution and investments in Food Parks, Salon and Spa Company and an edutainment company. The company has developed specialized expertise in agri-sourcing, manufacturing, brand development and rural and urban distribution and boasts a number of popular food and FMCG brands. The company is currently clocking an annualized business of around Rs 2000 crore and aims to touch Rs 10,000 crore turnover within the next couple of years. Its food brands include Tasty Treat, Sach, Fresh & Pure, Premium Harvest and FMCG Brands include ZAPZ, Think skin, Care Mate, Clean Mate, Sunkist.