The stock market is bullish on Friday. Nifty has started trying to make the 23800 level its base. The market is sustaining after a gap up opening. Stock specific action is continuing in the market.

Penny stock Mishtann Foods hit an upper circuit on Friday with a gain of 5% and reached the level of Rs 7.61. The market cap of this company is Rs 820.06 crore.

After falling for nine consecutive trading sessions, the shares of Mishtann Foods are continuously rising. On Friday, this stock hit an upper circuit. In Friday's trading session, the penny stock rose by 4.97 percent to reach the upper price band of Rs 7.61. Similarly, in the previous trading session, the penny stock touched the upper price band of Rs 7.25.

Mishtann Foods share price rose continuously on Friday and by noon, a total of 46.57 lakh shares were traded in it as against the two-week average trading volume of 166.12 lakh shares. That is, there was a lot of volume in the stock.

Mishtann Foods Share Price History

If we look at the price of this stock till December 27, then the penny stock has fallen by more than 7 percent in the last one week and by 17.01 percent in the last two weeks. In the last one month, the penny stock has fallen by 46.29 percent. The share price of Mishtan Foods has fallen by 57.39 percent in the last six months.
After continuous decline, now this stock is showing growth for the last two trading sessions.

Earlier, after the action of market regulator SEBI, the penny stock had declined for 9 consecutive days. This ban was imposed on all for alleged financial mismanagement, fraudulent transactions and lapses in corporate governance.

Apart from this, SEBI has ordered Mishtan Foods to bring back about Rs 100 crore, which it had allegedly embezzled through suspicious transactions with related parties.

According to SEBI, Mishtan Foods inflated its sales and purchases, entering into fictitious transactions involving fake or non-existent entities that were created using the names of the company's promoters and their relatives.