Mishtann Foods shares rise nearly 4% after 2.4 crore shares worth Rs 19.4 crore change hands 

Shares of Mishtann Foods Ltd. gained close to 4% in early trade on Wednesday, December 11, following a significant block trade. Approximately 2.4 crore shares, valued at ₹19.4 crore, were exchanged during the block deal window. This represents 2.3% of the company’s outstanding equity. The identities of the buyers and sellers involved in the transaction remain undisclosed.

This recovery comes after a challenging period for the company, as its shares hit successive lower circuits of 20% on Friday and Monday following the Securities and Exchange Board of India (SEBI) barring the company from raising public funds for seven years. In response, the price band for Mishtann Foods was adjusted from 20% to 10%.

Mishtann Foods addressed the allegations, stating that it “does not agree with the contents and the prima facie observations” of SEBI’s interim order and denied all charges. The company has assured that its legal team is actively working to address the matter.