Shares of Nestle India rose 1.21% to Rs 25,087.60 on the BSE.

The said strategic collaboration signifies a significant step forward in our commitment to enhancing operational capabilities, expanding product offerings, and creating long-term value for our shareholders.

The firm informed that this partnership with Nestle India is expected to bring synergies that will benefit both companies and contribute to the growth of the food sector.

The approved co-manufacturer status with Nestle enables the comapny to leverage their expertise, technological advancements, and established market presence.

“This collaboration aligns with our strategic objectives to strengthen our position in the market and meet the evolving needs of our consumers,” stated the company in a regulatory filing.

Shri Bajrang Alliance is mainly engaged in manufacturing of structural steels like angle, channel, joist/beam, round, etc at Raipur and also engaged into ready to eat frozen food project.

Nestlé is the world's largest food and beverage company. It manufactures internationally famous brand names such as Nescafé, Maggi, Milkybar, Kit Kat, Bar-One, Milkmaid and Nestea.

Shares of Shri Bajrang Alliance were freezed at its 52-week high of Rs 294.95 in today’s intraday session.