Patanjali Foods shares crack 4% after SC’s contempt notice

Patanjali Foods shares crack 4% after SC’s contempt notice

Shares of FMCG player Patanjali Foods dropped 4% on Wednesday to the day’s low of Rs 1,555.55 on the NSE a day after the Supreme Court (SC) issued notices to Baba Ramdev and Acharya Balakrishnan and asked why contempt proceedings should not be initiated against them for violating its orders. Patanjali Ayurved has been restrained … Read more

Patanjali Foods shares rally after OFS overhang ceases. What should traders do?

Patanjali Foods shares rally after OFS overhang ceases. What should traders do?

“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