Patanjali Foods The management of Patanjali Foods will interact with investors to discuss and inform them about the company plans and outlook in Motilal Oswal Annual Global Investor Conference on Tuesday.
Aikya Investment Management, Mirae Asset Management India, Abakkus Asset Managers, Goldman Sachs Asset Management and Edelweiss Global Wealth Management are some big names that will participate in the conference. Swami Ramdev will also hold a session in the Motilal Oswal investors’ conference later in the day.
“We would like to inform you that the officials of our Company, Patanjali Foods Limited (Formerly known as Ruchi Soya Industries Limited) (“the Company”) will be interacting with Investors on Tuesday, 20″ September, 2022,” the company said in a regulatory filing on Tuesday.
As per Zee Business, more than 55 investors, including domestic and global fund houses, will participate in the meeting.
Company CEO Sanjeev Asthana will interact with the investors one-on-one or in a group and discuss about business plans and the outlook of the company.
Business outlook, Patanjali IPOs are likely to be the talking points in the conference.
Earlier, on last Friday, Patanjali Group had said that it will float four more initial public offerings (IPOs) over the next five years.
“We plan to bring IPOs of our four more companies of our group, namely Patanjali Ayurved, Patanjali Wellness, Patanjali Medicine and Patanjali Lifestyle,” said Swami Ramdev had said during a press conference.
Once these companies are listed on the exchanges, Patanjali Group will have a total of five listed companies, including Patanjali Foods, formerly known as Ruchi Soya Industries.
Meanwhile, talking about the Patanjali’s participation in the conference, Zee Business Managing Editor said it is a big development for the company as they would be interacting with a host of domestic and global investors.
It hints that stock is all poised for big re-rating. “This is one of those stocks which should be in your portfolio if you want to add one from FMCG space as the valuations still remain cheaper than peers.
Patanjali Foods share target price
Talking about Patanjali Foods share target price, Anil Singhvi said one can buy with a target of Rs 1600-1700 around Diwali. Besides, the stock could also show a level of Rs 2000, he said.
On Tuesday, shares of Patanjali Food hit five per cent upper circuit to trade at Rs 1401.45 per share on the BSE. Market expert Sumeet Bagadia recommended to hold the position and buy on dips in case stock corrects for near-term target of Rs 1500.