Patanjali Foods shares dropped 20 percent to a new 52-week low on Wednesday, cutting the stock’s value nearly in half from its July peak last year. The price reached Rs 328.20 on the NSE, leading the firm to release a statement. It confirmed no significant events or information existed that required disclosure to account for the decline. The company stated it remains focused on growth and continues normal operations to meet its objectives. Shares later recovered partially and traded about 16 percent lower near Rs 345 by early afternoon. The stock has declined 19 percent over the past month and 37 percent so far in 2026. Analyst Sudeep Shah from SBI Securities observed that the drop confirmed a breakdown from consolidation on the daily chart, supported by higher trading volumes. The RSI also broke lower, signaling stronger negative momentum, while ADX indicators showed seller control and the price sat well below the lower Bollinger Band. Support levels lie at Rs 330-325, with a break potentially leading to Rs 310. Resistance appears near Rs 380-385. In May the company posted a 46 percent year-on-year rise in net profit for the January-March quarter of FY26, driven by edible oils and FMCG growth, though higher input costs limited margins. Profit after tax reached Rs 524 crore versus Rs 359 crore a year earlier. Revenue rose 17 percent yearly to Rs 11,217 crore.
