Shares of Patanjali Foods fell sharply on Thursday, dropping as much as 19% intraday to a 52-week low amid reports of a possible block deal.
The sudden decline triggered heavy trading and sparked speculation in the market. Responding to the sharp fall, the company clarified that its business operations remain normal and that there has been no material development affecting its performance.
While investors closely tracked the stock, analysts said the decline appeared to be linked to market activity rather than the company’s fundamentals. The shares later recovered some losses but remained under pressure by the close.