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
With the earnings season nearing the end, more than 500 companies are scheduled to release the earnings for the quarter and half-year ended September on Wednesday. The big ones to watch out for will be United Spirits, Lupin, Oil India, Mazagon Dock Shipbuilders, Bharat Heavy Electricals, Pidilite Industries, Tata Power Co, and Patanjali Foods. The … Read more
Equity indices declined for a second day straight on Wednesday as investors remained on the sidelines ahead of the US Federal Reserve’s interest rate decision. Stocks that were in focus included names like Patanjali Foods, which declined 1.45%, Tata Motors, which fell 0.17%, and Sun Pharma, whose shares gained 2.61% on Wednesday. Here’s what Riyank … Read more
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
Mumbai: Patanjali Ayurved, promoters of Patanjali Foods, will sell up to 9% or 3.26 crore shares of the company in an offer for sale on July 13 and July 14, according to an exchange filing on Wednesday. The OFS will open for subscriptions for non-retail investors on July 13 and for retail investors on July … 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
Baba Ramdev-led FMCG company Patanjali Foods today reported a 31.6% YoY drop in its standalone Q2 net profit at Rs 112.28 crore amid pressure on margins in the edible oil business. Its September quarter revenue, however, jumped 42% YoY to Rs 8,514 crore. The company, which was earlier known as , blamed the pressure on … Read more
Yoga guru Baba Ramdev on Friday announced that Patanjali Group will launch at least four IPOs in the next five years. “We will launch at least four IPOs for sure – Patanjali Ayurved, Patanjali Medicine, Patanjali Wellness and Patanjali Lifestyle – in the next five years,” Baba Ramdev announced at a press conference on Friday. … Read more