The shares of this company of Baba Ramdev became rocket, after a good news, the stock is being bought fiercely
Ruchi Soya shares: Baba Ramdev (Baba Ramdev) backed company Ruchi Soya Industries Ltd (Ruchi Soya Industries Ltd) shares are seeing tremendous growth on the first trading day of the week i.e. on Monday. The company’s shares fell more than 20% in the opening trade itself. There is an upper circuit in the shares. There is a big reason behind the rise in stocks. The reason is that Ruchi Soya’s follow-on public offer (FPO) is coming. In fact, the board of Ruchi Soya has approved a red-herring prospectus for an FPO of about Rs 4,300 crore. According to the company, the issue will open on March 24 and will close on March 28, 2022.
Shares are flying solely after the news
Shares of Ruchi Soya (Ruchi Soya stock price) are trading at Rs 963.75 with a rise of 20% on NSE today. However, this year in 2022, according to YTD, the stock had risen only 12.96 per cent, while the stock is up 15.72 per cent in a month. Now the company’s shares jumped 20% in a single day just because of the news of FPO approval. The company’s stock has gained Rs 160.60 today. Earlier on Friday, the company’s shares closed at Rs 803.15.
Ruchi Soya was once in debt
Let us tell you that till a few years ago, the edible oil company Ruchi Soya was in heavy debt, which was later given Sanjivani by Baba Ramdev. Ramdev’s Patanjali group (Patanjali grpup) had acquired Ruchi Soya in the year 2019. At present, promoters hold around 99 per cent stake in Ruchi Soya. Ruchi Soya can sell at least 9 per cent stake through FPO. Nutrela is the brand name of Ruchi Soya, a leader in soy foods in India. It was launched by Ruchi Soya in the 1980s. It also has brands like Mahakosh, Sunrich, Ruchi Gold.
