Patanjali to acquire parent's non-food biz

Shares of Patanjali Foods hit a record high today (July 2) after the Baba Ramdev-led firm’s board approved proposal to buy its parent company Patanjali Ayurved's home and personal care business for ₹1,100 crore. Patanjali Foods shares rose 4% to a high of ₹1769.15 on July 2 compared to the previous close of ₹1699.65 on BSE. The company's shares have gained 44.17% in a year and risen 9.16% since the beginning of this year.

A hoarding with an image of Baba Ramdev is seen inside a Patanjali store in Ahmedabad, India.(Reuters)

On the BSE, total 1.16 lakh shares changed hands amounting to a turnover of ₹20.13 crore and the market capitalisation of the firm rose to ₹62,140 crore.