Patanjali Foods shares snapped their 7-day fall in Wednesday's trading session after the Life Insurance Corporation of India (LIC) increased total stake in the company to 7.06 percent.
Reuters reported that LIC acquired an 2.04 percent stake in Patanjali Foods Ltd. through the open market. With this, the company's total stake in Patanjali Foods has increased to 7.06%. The shares were acquired between Nov. 25 and Mar. 4, it said.
Shares of Patanjali Foods Ltd gained 1.56 percent to an intraday high of Rs 1,759.90 per share on the NSE. Later in the day, it pared some of its gain to quote at around Rs 1,751 apiece, up 1.1 percent.
The stock has gained after 7-days of consecutive fall during which it declined nearly 7 percent. Patanjali Foods was one of the six companies that got introduced into NSE futures and options (F&O) segment from March series. Other companies included Tata Tech, Amara Raja Energy & Mobility, Titagarh Rail Systems among others.
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