Patanjali Foods jumps nearly 8% after report of its non-food business merger

Patanjali Foods Share Price: Patanjali Foods Share Price: Patanjali Foods Ltd soared nearly eight per cent on BSE on Monday (June 10, 2024) after a report said that the company's non-food business will be merged soon.

Patanjali Foods shares that closed at Rs 1,402.95 apiece on Friday soared by 7.99 per cent to jump to Monday's high of Rs 1,515.00 apiece.

The Patanjali Foods stock closed trading higher by 5.06 per cent, or Rs 71.05, at Rs 1,474.00 on Monday.

The report said that the merger will be done at 80-90 per cent cheaper valuation.

After the merger, the operating profit expected to increase directly by Rs 1,000 crore.