68,050 shares changed hands in Vadilal Industries and 1,095 shares got traded in Vadilal Enterprises

With a view to giving a fillip to the food processing industry, the FM proposed to fully exempt from excise duty condensed milk, ice cream, preparations of meat, fish and poultry, pasta and yeast. The prevailing excise duty on ice cream was 16%.

Recently, Vadilal Industries had announced that it proposed to set-up a new ice cream manufacturing plant in the State of Uttaranchal with an installed capacity of 50,000 kiters per day at a project cost of around Rs 12 crore. It had also said it proposes to incur capital expenditure to the extent of Rs 2 crore for its ice-cream plant situated at Pundhra (Gujarat) and Bareilly (UP) towards purchase of new cold storage, new corn machine, new crapes, ice-cream freezer, double sunday machine etc.