Patanjali Foods Stock Rise 5% Crossing Rs 53,000 Cr Market Value
With today’s growth, the market value of the company has crossed Rs 53,000 crore
In Wednesday’s trading, Baba Ramdev’s Patanjali Foods has an upper circuit and the stock has risen by 5 per cent to reach the level of 1471.5. The upper band for the stock is 5 per cent.
According to market experts, recently the company has put forward its next 5 year plan and the IPO plan that has led to rise in sale of Patanjali stock. Patanjali Foods is the only listed company of the group preparing to bring 4 more companies’ IPO in the next 5 years.
With today’s growth, the market value of the company has crossed Rs 53,000 crore. At the same time, the stock has given a return of 33 per cent in the last one month. Brokerage firms predict that the stock will see more hike in the coming period. According to IIFL Securities, the stock can touch the level of 1700 in the short term.
Ramdev had said that the group company Patanjali Foods (earlier Ruchi Soya) has been listed on the stock exchange and four other companies Patanjali Ayurved, Patanjali Medicine, Patanjali Lifestyle and Patanjali Wellness will be listed in the next 5 years. The group also plans to provide 5 lakh jobs during this period. Looking at these projections ahead, buying is being seen in the stock.