With a market of Rs. 45,471.98 Crore, Patanjali Foods Limited is a large-cap company dealing in the Fast Moving Consumer Goods (FMCG) industry. Patanjali Foods Ltd shares hit new 52-week high on Friday 1,266 and then closed with an upside margin of 4.50% 1,259.95 per piece. On the trading day, the total volume of the stock stood at 1,282,012 shares, which is significantly lower than the 20-day average volume of 351,933 shares.
The company’s board of directors had recommended dividend 5 per equity share or 250 per cent on the face value of Rs. 2 per share for the financial year ended 31 March 2022. For this the record date for determining the eligibility of shareholders for dividend payment has been announced by the Board. As per the data available on BSE, 23 September 2022 has been fixed as the ex-date for dividend purposes, hence prospective investors are suggested to buy the stock before the ex-date due to T+2 trading settlement.
The Board, in a regulatory filing, said that “In accordance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and Share Transfer Books of the Members of the Company from Tuesday, September 27, 2022 to Tuesday, September 27, 2022.” for the purpose of payment of dividend for the financial year (FY) 2021-22, if declared at the AGM on Thursday, the 29th September, 2022 (both days inclusive). Accordingly, the number of members of the company to receive the dividend The date for the purpose of determining eligibility is Monday, September 26, 2022.”
On Wednesday, Patanjali Foods Limited (formerly Ruchi Soya Industries Limited) announced that an oil palm mill would be constructed at the Industrial Development Center at Niglok in East Siang district of Arunachal Pradesh. “In the state of Arunachal Pradesh, we are planning to start palm oil plantations in an area of 38,000 hectares in 9 districts. We have already established 2 nurseries at Pasighat and Holangi and are in the process of setting up 3 more nurseries at Kheram, FTC and Deepa in Lower Siang district. This will boost the economy of the state and bring in tremendous employment generation along with increase in income of local farmers,” the company said in an official announcement.
“Patanjali Foods has committed itself to the government’s NMEO-OP program and large scale cultivation of palm oil plantations in 5 lakh hectares in India; of which 3.2 lakh hectares will be in the North East region. Patnajali’s NE The oil palm program will immensely benefit the state’s economy over the next 30 years. Major benefits include: Average annual production of palm oil of around 7.5 lakh metric tonnes, approximately Rs.10,500 crore forex outgo annually and employment for about 5.8 lakh people. creation,” the company said in a regulatory filing.
The stock had touched a 52-week low 1,021.00 (25-July-22) and at current market price the stock is trading up 23.40% from the lower level.
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