In the stock of Baba Ramdev's Patanjali Foods, the upper circuit is being seen continuously for the last two days. With the rise today, the stock has reached its all-time high. According to market experts, recently Patanjali Group has put forward its next 5-year plan, the IPO plan of group companies. Which has been taken by the investors. For this reason, buying is seen in the stock. Patanjali Foods is the only listed company in the group. The group is preparing to bring 4 more companies to IPO in the next 5 years.
Where did the stock of Patanjali Foods reach today?
In Wednesday's trading, the stock has an upper circuit and the stock has risen by 5 percent to reach the level of 1471.5. The upper band for the stock is 5 percent. The one-year low of the stock is 706. With today's growth, the market value of the company has crossed Rs 53 thousand crores. At the same time, the stock has given a return of 33 percent in the last month. Brokerage firms predict that the stock will see more upside in the coming time. According to IIFL Securities, the stock can touch the level of 1700 in the short term.
what is Patanjali group plan
The main reason for the rise in the stock is the plans of Patanjali Group. Baba Ramdev has informed that in the next five to seven years, the business of the group is estimated to reach one lakh crore rupees by two and a half times. At the same time, he said that the Patanjali group is preparing to bring an initial public offering (IPO) of four of its companies. 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.