Patanjali Foods shares hit record high as firm to buy Patanjali Ayurved's non-food business

Haridwar: Patanjali Foods Ltd reached a new all-time high today when the board of the company led by Baba Ramdev endorsed the plan to acquire Patanjali Ayurved's home and personal care division for a total valuation of Rs 1,100 crore.

Patanjali Foods' stock price rose by 4% to reach Rs 1769.15 today from the previous closing price of Rs 1699.65 on BSE. On the BSE, the opening price of Patanjali Foods' shares was higher at Rs 1750.05. The shares of Patanjali Foods have increased by 44.17% over the past year and have gone up by 9.16% since the start of this year. 1.16 lakh shares were traded, resulting in a turnover of Rs 20.13 crore on the BSE. The company's market capitalization increased to Rs 62,140 crore.

Patanjali Foods has a beta of 1.3, showing significant volatility over a one-year period.

Regarding technical analysis, the Patanjali Foods stock's relative strength index (RSI) is currently at 72.2, indicating that it is in the overbought area. Patanjali Foods stock is currently above the moving averages for 5, 10, 20, 50, 100, 150, and 200 days.

Patanjali Foods Ltd's board has given the green light for Patanjali Ayurved Ltd to purchase its Home and Personal Care Business, speeding up the company's move towards becoming a top FMCG company. In India's FMCG sector, PAL's HPC division boasts a solid brand reputation and maintains a dedicated customer following nationwide. The company stated in a filing that it currently serves four main markets: dental care, skin care, home care, and hair care.

ALSO READ: Railways extends special trains for benefit of passengers; Check details