Bikaji Foods Hits Record High, Shares Climb Over 11% In Past Four Days

Bikaji Foods International Ltd.'s shares extended the record-breaking streak on Friday after rising by over 11% in the past four sessions.

The company's net profit rose 40.3% year-on-year to Rs 58 crore in the quarter ended June, according to an exchange filing. Revenue surged 18.7% to Rs 572 crore.

Shares of Bikaji Foods rose as much as 10% during the day to a record high of Rs 879.2 apiece on the NSE. It was trading 2.94% higher at Rs 822.8 apiece, compared to a 0.97% advance in the benchmark Nifty 50 at 10:57 a.m.

In the last four trading session, the stock has risen by 11.8%. The scrip has risen 67.5% in the last 12 months and 50% on a year-to-date basis. The total traded volume so far in the day stood at 7 times its 30-day average. The relative strength index was at 74.

All six 11 analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 3.8%.