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.
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.
