New Delhi, March 17 -- Patanjali Foods share price rose as much as 1.52 per cent on Monday's trading session after global brokerage firm Jefferies initiated coverage on the stock with 'buy' rating.

At 9:30 am, Patanjali Foods stock was trading at Rs.1,736 on March 17. The stock has fallen over 4 per cent in over a month.

Jefferies has assigned a target price of Rs.2,050 per share to Patanjali Foods, suggesting a potential 19 per cent increase from the previous session's closing price.

Jefferies highlights several factors contributing to their optimistic outlook on Patanjali Foods. The company has diversified its product range and is expanding both organically and through the acquisition of high-margin portfolios from its parent company...