Patanjali Foods shares surged over 5% on Tuesday, reaching a new 52-week high. Trading at Rs 1,687, the shares marked a 5.5% increase, according to Trendlyne data.
Over the past year, Patanjali Foods has delivered a robust 43% return, with a 5.3% rise in the last month and a notable 34% increase in the last quarter.
The September quarter witnessed a significant uptick in Foreign Portfolio Investors' (FPIs) stake in Coforge, IDFC First Bank, and Patanjali Foods, as indicated in a November report by Kotak Institutional Equities. On the other hand, mutual funds showed heightened interest in Coforge, Sula Vineyards, and Restaurant Brands Asia, while banks and financial institutions increased their stakes notably in Restaurant Brands Asia, Union Bank, and Amara Raja, according to the same report.
Patanjali Foods' recent surge to a new 52-week high underscores positive market sentiment and investor confidence in the company's performance. Investors may find this upward trajectory appealing, especially considering the consistent returns and increased stake by FPIs in the previous quarter.
(With Agency Inputs)
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