Prataap Snacks jumps up

Prataap Snacks had a very crispy “namkeen” run in the morning. The stock rose almost 12% to Rs.495 on the BSE and then cooled off; it is now trading at Rs.459 levels, up over 3.5%.

The company, which sells its savouries under the brand name of ‘Yellow Diamond’ stated yesterday late evening that it has begun production at its third party/job work manufacturing units located at Kashipur, Uttarakhand, Raigad (Karjat), Maharashtra and Hisar, Haryana.

This has been started in line with the terms and conditions of the Order(s) of the respective local administration in the amidst of spread of CoronaVirus (COVID-19).

Prataap Snacks is a large-scale snacks manufacturer that runs nine manufacturing facilities.

In 2017, the company was listed on NSE and BSE, and its IPO was oversubscribed 47 times; the issue was priced at Rs.938, almost half the price at which it is quoted now.