India's Patanjali Foods continues rally after investor meet

Patanjali Foods

07/12/2023 08:25

** Shares of Patanjali Foods  PAFO.NS  rise as much as 5.52%
to 1665 rupees apiece, highest since Apr. 25, 2018
    ** Rise after the edible oils, food products maker said in
an investor meet on Dec. 5 it targets EBITDA of 8 bln rupees -
12 bln rupees over the next five to seven years
    ** Stock up about 7% in two sessions including today, since
the investor meet
    ** Stock is on a four-session winning streak
    ** PAFO expects the group turnover to cross 450 bln rupees
in fiscal 2024
    ** Trading volume is 1.59 mln shares as of 1:54 p.m. IST,
2.5 times the 30-day avg - LSEG data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))