Ruchi Soya slumps as creditor files winding up petition

Ruchi Soya Industries fell 5.22% to Rs 21.80 at 13:47 IST on BSE after the company said it has been served with a copy of winding up petition filed by one of its creditors before the High Court of Bombay.

The announcement was made after market hours yesterday, 12 July 2016.

Meanwhile, the S&P BSE Sensex was up 11.67 points or 0.04% at 27,819.81.

On BSE, so far 1.05 lakh shares were traded in the counter as against average daily volume of 1.04 lakh shares in the past one quarter. The stock hit a high of Rs 22.50 and a low of Rs 21.20 so far during the day. The stock had hit a 52-week low of Rs 17.75 on 25 May 2016. The stock had hit a 52-week high of Rs 39.25 on 4 August 2015. The stock had outperformed the market over the past one month till 12 July 2016, gaining 12.2% compared with the Sensex's 4.4% rise. The scrip had, however, underperformed the market in past one quarter, declining 22.69% as against Sensex's 10.59% rise.

The small-cap company has equity capital of Rs 66.82 crore. Face value per share is Rs 2.

Ruchi Soya Industries said it will take appropriate legal recourse in the matter.

Ruchi Soya Industries reported net loss of Rs 889.65 crore in Q4 March 2016 compared with net profit of Rs 18.99 crore in Q4 March 2015. Net sales declined 12.4% to Rs 8436.64 crore in Q4 March 2016 over Q4 March 2015.

Ruchi Soya is one of India's leading cooking oil and soy food maker and marketer.

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