Noida, July 15 (APAC Media): Patanjali Foods Ltd. stocks plunged 16% on Wednesday, hitting a fresh 52-week low, as the stock extended its steep decline and fell nearly 50% from its July 2023 peak.
The company, meanwhile, clarified that it was not aware of any undisclosed material developments or events that could have triggered the recent movement in its equity share price.
Shares of Patanjali Foods declined 16% to ₹344.65 on the BSE, while the stock fell 15.50% to ₹344.45 on the NSE during intraday trading at 1:55 PM.
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Responding to a query from the stock exchanges regarding the significant price movement, the company said it “continues to remain focused on its growth path” and is carrying out its business operations in the ordinary course while pursuing its strategic objectives.
“The company is not aware of any material events, information, or circumstances at present that require disclosure to the stock exchanges under the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,” Patanjali Foods said in its regulatory filing.
The company further stated that it remains compliant with Regulation 30 of the Listing Regulations and has been making timely disclosures of all material events and information that may have a bearing on its operations, performance, or affairs.
“All material events and information required to be disclosed under the applicable provisions of the Listing Regulations, including those which may have an impact on the price behavior of the company’s equity shares, have been duly disseminated to the stock exchanges,” it added.
Patanjali Foods reiterated that it continues to focus on its business objectives and growth plans while operating in the normal course of business.
–ENDS–
Disclaimer: This article is for informational purposes only. APAC Media is not liable for any investment decisions or losses. Please conduct your own research or consult a financial advisor before investing.
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