Ajanta Soya hits upper circuit after Dolly Khanna picks up nearly 1% stake

Shares of Ajanta Soya hit 20 per cent upper circuit at Rs 183.75 on the BSE on Tuesday after ace investor Dolly Khanna bought 140,000 equity shares at Rs. 147.7 apiece in the edible oil company via an open market transaction.

On Monday, Dolly Khanna took 0.87 per cent stake in Ajanta Soya, exchange data shows. As of September 30, 2021, Dolly Khanna had no holding in the company, shareholding pattern data suggested.

Ajanta Soya - Multibagger stock:

Considered as a multibagger stock of 2021, this newly entrant in Dolly Khanna portfolio has delivered around 205 per cent in year-to-date time. In last one year, Ajanta Soya stock has delivered around 290 per cent return to its shareholders whereas in last 5 years, it has risen near 470 per cent.

Recently, edible oil prices in the major retail markets across the country have declined by Rs 5-20 per kg after various measures, including an import duty cut, by the government, Food Secretary Sudhansu Pandey had said. The official said that branded oil makers have also revised the rates for new stock.

Domestic edible oil prices have soared in tandem with the global prices which shot up due to reduced availability of edible oils for food use following diversion for biofuel in Indonesia, Brazil and other countries.

Major edible oils players, including Adani Wilmar and Ruchi industries, have cut wholesale prices by Rs 4 -7 per litres to give relief to consumers during the festival season, a government statement said.