Patanjali Foods shares jump after favorable Delhi High Court ruling
Business
Patanjali Foods's shares shot up 5% on Wednesday after the Delhi High Court ruled in its favor, scrapping some tax orders against Patanjali Ayurved.
The stock climbed to ₹360.50 during the day, with trading volumes spiking as well.
Even with this boost, the stock is still down a lot compared with last year.
Patanjali Foods Q1 revenue 11,337cr
The legal win isn't the only good news: Patanjali Foods also posted strong first-quarter results, with revenue jumping 29% to ₹11,337 crore.
Growth in biscuits, oil palm businesses, and expanding e-commerce have helped turn things around and given investors more reasons to be optimistic.