Bikaji Foods' stock price up today

24 Nov 2022 , 11:38 AM

In Thursday’s intraday trade on the National Stock Exchange (NSE), Bikaji Foods International shares increased 10% for the second straight day, reaching a record high of Rs 379.20. Bikaji Foods got listed  on November 16th.

The stock of the packaged goods company has soared 21% in the last two trading days and is currently selling at a premium of 27% over its initial public offering price of Rs 300 per share. On November 18, 2022, the price of the shares fell to Rs 303. At 10:44 a.m., the stock was trading 9% higher at Rs 375.15, outperforming the 0.56 % increase in the Nifty 50. On the NSE and BSE, 7.9 million equity shares were exchanged in total.

The third-largest producer of ethnic snacks in India, Bikaji Foods also sells its products abroad. In the organised snacks market in India, it is also the company with the second-fastest rate of growth. Namkeen is the top-selling category, followed by bhujia, sweets, papad, and others, which together contributed 35.6%, 34.9%, 12.7%, 6.7%, and 10.0% of total sales in FY22, respectively.

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