Why Ruchi Soya price is going up?

Analysts are comparing this stellar run with the surge that Ruchi Soya shares saw after Baba Ramdev’s Patanjali Group acquired the company last year in a bankruptcy sale. Public investors hold less than half a per cent shares in the company, which is what is causing the stock to swell.

When Patanjali take over Ruchi Soya?

Ramdev-led Patanjali had acquired Ruchi Soya in 2019 through insolvency process. Patanjali will sell 9.89 per cent stake in Ruchi Soya to meet SEBI’s criteria. After the stake sale, Patanjali’s stake in Ruchi Soya will come down to 89 per cent.

Is Patanjali registered in stock market?

In 2019, Patanjali acquired Ruchi Soya, which is listed on stock exchanges, through an insolvency process for Rs 4,350 crore. It has brands such as Mahakosh, Sunrich, Ruchi Gold and Nutrela.

Which company Patanjali buying?

Ruchi Soya
Addressing a virtual press conference, Congress spokesperson Pawan Khera alleged that Yoga Guru Ramdev-promoted Patanjali group bought Ruchi Soya for ₹4,350 crore. “This company [Ruchi Soya] had taken loans of ₹12,146 crore and the banks started making claims for them.

Why did Ruchi Soya’s stock price rise on Monday?

The stock closed at Rs 1,108.20 on the Bombay Stock Exchange (BSE) Monday. Analysts point out that the rise in Ruchi Soya’s stock price was mainly on account of the low level of free float or the percentage of the shares with the public. This is also adding greater volatility to the price movements.

When did Patanjali Ayurved buy Ruchi Soya?

The sale transaction was completed in December 2019 and Patanjali Ayurved paid Rs 4,350 crore to take over. The company was relisted in January this year. However, existing shareholders of Ruchi Soya got only one share for every 100 shares held in the newly formed entity.

What explains Ruchi Soya industries’ 8929\% jump after relisting after insolvency?

New Delhi: A leap of 8929 per cent in five months of relisting after insolvency, and then a steep fall for six consecutive trading days — the stock movement of Baba Ramdev’s Patanjali Ayurved-acquired Ruchi Soya Industries has left markets perplexed and raised questions over leeway to firms that have come out of the insolvency process.

What happened to Ruchi Soya’s castor seeds?

In 2017, the global market of castor seeds saw a drastic decline. Ruchi Soya had invested huge sums into it only to see a serious loss. Apart from this, the seed business in India faced a rough patch when there was a serious drought followed by the failure of crops in various parts of India.