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Bloomberg
Heritage Foods and Parag Milk Foods are almost doubling in market value as sales of packaged milk pick up pace with Indians stocking up to survive the world’s biggest lockdown.
The nation is the largest producer and consumer of milk, pouring it liberally into sugared teas and coffees, as well as using derivatives like ghee, curd, and cottage cheese in everyday cooking. Shares of the companies have surged about 90% since March 24, when PM Narendra Modi suspended public transport and stopped the sale of all products except food and other essential items, in an all-out effort to contain the coronavirus.