Baba Ramdev-backed Patanjali Foods shares have hit ₹50,000 market cap. In last 5 years, Patanjali Foods share price has ascended from around ₹21 to ₹1393 apiece levels, delivering around 6,250 per cent return to its positional investors. However, in around three years, this FMCG stock has risen from around ₹3.54 apiece levels to ₹1393 per share levels on BSE, ascending to the tune of 39,250 per cent in this small-time. So, the stock has remained a money-making stock for its shareholders. However, this Baba Ramdev-backed FMCG stock is still in ‘uptrend.’
Stock hits new 52-week high
Patanjali Foods share price today opened upside and went on to hit intraday high of ₹1415 apiece on BSE, which is new 52-week high.
In last four sessions, Baba Ramdev-backed company’s share price has rallied from around ₹1285 to ₹1415 apiece levels, logging over 10 per cent appreciation in these four straight sessions. The company aims to meet entire edible oil demand in India and want to make India free from importing edible oil. To meet this objective, the company has planted palm tree in around 15 lakh acre land that would continue to yield palm oil to the country for next 40 years. On various platforms in India, Yog Guru Baba Ramdev has been claiming that the company is aiming to raise its edible oil production capacity so that more and more edible oil should be supplied in the domestic market to meet the rising demand of edible oil in India.
Getting ready to trade ex-dividend
This Baba Ramdev-backed stock is one of the dividend paying stocks in 2022 as well. The FMCG company has announced ₹5 per equity share dividend to its shareholders. The board of directors of the company has fixed 26th September 2022 as record date for dividend payment. This means, this multibagger FMCG stock is going to trade ex-dividend on 23rd September 200 as 24th and 25th will be Saturday and Sunday and stock market remains closed on Saturday and Sunday.
Informing stock market exchanges about the latest development in regard to dividend payment, Patanjali Food Ltd said, “Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and Share Transfer Books of the Company will remain closed from Tuesday, September 27, 2022 to Thursday, September 29, 2022 (both days inclusive) for the purpose of payment of dividend for financial year (FY) 2021-22, if declared at the AGM. Accordingly, the date for the purpose of determining entitlement of the members of the Company to receive Dividend is Monday, September 26, 2022.”