Lotus Chocolate Company had a dramatic turn in its fortunes after its recent rally.

What Happened: Lotus Chocolate company's stock has hit a 5% lower circuit on eight consecutive sessions now. This change in fortunes comes after the company's shares had hit the 5% upper circuit for 26 consecutive trading sessions between July 18 and August 23, except for August 7 when it gained 4.75% in the session.

The reason for the sudden reversal in stock price is not clear.

The stock had gained over 220% in this period, hitting an all-time high of ₹2,608.65 on August 26. 

Reliance Consumer Products, the wholly-owned subsidiary of Reliance Retail Ventures owns a 51% stake in Lotus Chocolate company. Reliance’s fast-moving consumer goods arm acquired the controlling stake in the company in May 2023.

Lotus Chocolate manufactures high-quality chocolates, cocoa products and cocoa derivatives. The company was established in 1988 and started operations in 1992.

Price Action: Shares of Lotus Chocolate company fell 5% to ₹1,648.35.