Mrs Bectors Food soars 11% after Sunil Singhania’s Abakkus acquires 29.4 lakh shares via block deal

According to exchange data, Abakkus Investment Managers Pvt. Ltd. purchased 29,39,588 shares of Mrs Bectors Food on July 15, representing around 0.96% equity in the company. The shares were acquired at an average price of Rs 168.97 apiece, marginally below the previous day’s BSE closing price of Rs 169.45.

The bulk purchase sparked fresh buying interest in the stock, which has been under pressure in recent months. Over the past three months, Mrs Bectors Food shares have declined around 15%, while the stock has fallen nearly 42% over the last year, significantly underperforming the broader market.

At the current market price, the company commands a market capitalisation of Rs 5,202 crore. The stock has touched a 52-week high of Rs 318.18 and a 52-week low of Rs 164.95, indicating a sharp correction from its peak.

From a valuation standpoint, Mrs Bectors Food trades at a price-to-earnings (P/E) ratio of 36.45, a price-to-sales (P/S) ratio of 2.69, and a price-to-book (P/B) ratio of 4.04.

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Technical indicators continue to suggest caution. The stock’s 14-day Relative Strength Index (RSI) stands at 39, indicating that it is approaching the oversold zone, though it remains above the 30-mark typically considered oversold. Additionally, the stock is trading below all eight of its key simple moving averages (SMAs), reflecting a prevailing bearish trend.

Despite the recent weakness, analysts remain optimistic about the company’s prospects. According to Trendlyne data, the consensus target price implies an upside potential of around 35% from current levels. The stock also enjoys a ‘Strong Buy’ consensus recommendation from 11 analysts, highlighting expectations of a potential recovery in the coming months.

Mrs Bectors Food Specialities is yet to announce its June 2026 quarter results. In the March 2026 quarter, the company reported an 8.4% year-on-year rise in consolidated revenue to Rs 496 crore, while consolidated net profit increased 3.3% YoY to Rs 35 crore, indicating steady business growth despite relatively modest earnings expansion.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)