Patanjali Foods Limited shares faced a fifth consecutive session of decline as weak investor sentiment led to sustained selling pressure. The stock, which opened at Rs 416.20, reached an intra-day high of Rs 416.80 before dropping to a low of Rs 408.80 during the session. Over the past five trading sessions, the stock has decreased by Rs 11.10, or 2.64 percent.
This recent downtrend adds to the broader fall in the stock price, with Patanjali Foods shares declining by about 12.45 percent over the last month and plunging by 25.13 percent in the past year. The decline follows the revelation that food safety authorities in Kerala’s Kannur district have banned the sale of a specific batch of sorghum flour due to elevated pesticide residue levels.
The company, in a regulatory filing, confirmed receiving a communication from the Office of the Designated Officer (Food Safety), Kannur district, regarding the prohibition order on a particular batch of sorghum flour. The order was issued due to the presence of excessive chlorpyriphos pesticide residues in the batch, surpassing the permissible limits.
Patanjali Foods clarified that the prohibition is specific to the identified batch and is limited to Kannur district. The company emphasized that this restriction does not significantly impact its overall financial or operational performance, except for the affected batch’s value.
