Shares of Baba Ramdev-led Patanjali Foods today rallied up to 4.65% to fresh 52-week high of Rs 1,439.70 as the FMCG stock moved out of the additional surveillance framework (ASM) under the insolvency and bankruptcy code. ASM or additional surveillance framework is part of the initiatives taken by the Securities and Exchange Board of India … Read more
“There is still a comfort zone in terms of value in comparison to peers. We have a target price of Rs 1,670 till Diwali,” said Vaibhav Kaushik, Research Analyst at GCL Broking.Following a 7% stake sale, the promoter stake has been reduced from 80.82% in Patanjali to 73.82%. Accordingly, the company has now become compliant … Read more
Indian closed in the green for the second consecutive day on Friday. The S&P BSE Sensex rose more than 300 points while the Nifty50 closed above 17100 levels.‘Sectorally, buying was seen in realty, metals, banks, and industrials while selling was seen in auto, healthcare, FMCG, and oil & gas. Stocks that were in focus include … Read more