New Delhi, Sept. 3 -- Sarveshwar Foods share price rallied over 3% on Wednesday after the company announced entering into an agreement with a German company for strategic technology transfer relating to advanced rice processing technologies. The penny stock surged as much as 3.27% to Rs.7.88 apiece on the BSE.

Sarveshwar Foods has entered into a strategic Memorandum of Understanding (MoU) with a German technology company 'Foodtech Solutions GmbH' to bring in next-generation solutions for rice storage, preservation, and preparation.

The key highlights of the MoU includes CO₂-based storage system to preserve rice freshness without chemical preservatives, reusable cocoons for storage, reducing contamination and waste. It also include...