Patanjali, India’s emerging FMCG giant, has benefited significantly this festive season. In fact, the company’s shares have seen a 2% increase. This increase has led to an increase in its valuation of Rs 1,262 crore.
Experts believe that Patanjali shares could see further gains in the coming days. Since the GST reform and the start of the festive season, the company’s sales have seen an increase. As a result, the company’s shares have also seen an increase. Let us tell you what kind of story the company’s stock figures are telling.
Festive season kicks off
The festive season began on the first day of October, and the company’s shares began to rise. According to BSE data, the company’s share price was ₹577.30 on September 30th. This increased to ₹588.90 on October 20. This means that the company’s shares have seen a 2% increase, or ₹11.6, during the festive season. However, the company’s shares closed flat on Monday, down 0.23% at ₹588.90. The company opened at ₹592.85, and its stock reached an intraday high of ₹593.30. The previous day, the company’s stock was trading at ₹590.25.
The company made a huge profit
Twenty days have passed since the beginning of the festive season, in October. The company’s valuation has also seen an increase during this period. At the close of trading on September 30, its valuation was ₹62,800.33 crore. By Monday’s close, the company’s market cap had reached ₹64,062.21 crore. This means the company’s valuation has increased by ₹1,261.88 crore. According to experts, the company’s shares may see further rise in the coming days and the valuation may cross Rs 70 thousand crore.