Patanjali Foods shares rally 8% in 2 days ahead of board meeting to consider bonus share issue

Patanjali Foods shares jumped 8% in 2 days, hitting Rs 1,813.60 after the board announced a July 17 meeting to consider a bonus issue.

Today alone, shares rose 4%, with the potential bonus being the company’s first-ever, as per Trendlyne.

Promoters hold 69.5% stake, while 31.5% is with public investors, including FIIs and mutual funds.

1-year target at Rs 2,116 implies a 21.4% upside from the last close of Rs 1,740.