But other modes like OFS, QIP to raise public shareholding
Company backed by yoga guru Baba Ramdev failed to meet Sebi's public shareholding rule within deadline
The company is required to either raise funds or promoters needs to sell 5 per cent stake to bring down their stake to 75 per cent
Analysts remain cautious on mid-and-smallcap segments and suggest earnings need to catch up before the stocks start to recover
In past one month, the stock was down 20 per cent after the government decided to discontinue import of crude soybean oil under tariff rate quota (TRQ).
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Baba Ramdev-backed Patanjali Foods recorded a decline in profitability for the quarter that ended September 30 with total income at Rs 8,524 crore during the quarter, against Rs 6,010 crore in Q1 FY22