The share price of gutkha and pan masala manufacturing company Kothari Products, the owner of Pan Parag brand, bounced back on a recent favourable adjunct given by the Supreme Court.
The stock rose to an intraday high of Rs 164 before closing at Rs 160.25, up 6.33 per cent, on the BSE. About 12,500 shares were traded at the counter, on BSE and NSE.
The stock has took a pasting after the ban on gutka and pan masala in Maharashtra from August 1 2002.
Also Read
The rebound in the stock comes after the Supreme Court's recent stay on the judgment of Allahabad High Court imposing a ban on manufacture and sale of pan masala and gutka in Uttar Pradesh until further orders.
From a low of Rs 131.05 on July 29, 2002, the share has gained 23.23 per cent to the current Rs 161.50. The Kanpur-based company is the largest manufacturer and exporter of pan masala.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app