Systematix initiates coverage on Patanjali Foods with buy rating, sees 24% upside

Brokerage Systematix has initiated coverage on Patanjali Foods with a 'Buy' rating and a target price of Rs 2,259, indicating a 24% upside from the previous closing price of Rs 1,828.50 per share. Systematix highlighted Patanjali’s aggressive plans in palm oil plantation and its strategy to capitalize on premiumization trends in its food business.