Ruchi Soya shares see smart recovery; ends 2.5% higher

Erasing its sharp early losses, shares of Ruchi Soya Industries ended the day with 2.5 per cent gains on emergence of value-buying at lower level.
The stock which tumbled 19.5 per cent to Rs 17.75 -- its one year low level -- on BSE during the day, later recovered the lost ground and ended at Rs 22.60, up 2.49 per cent.
At NSE, shares of the company gained 2.48 per cent to settle at Rs 22.65.
The Securities Exchange and Board of India (Sebi) has banned Ruchi Soya Industries and National Steel and Agro Industries from the securities market for alleged fraudulent and manipulative practice in trading in castor seeds at the NCDEX.

Shares of National Steel slumped five per cent to Rs 11.26 on the BSE.
The two companies have been barred from "buying, selling or dealing in the securities market, either directly or indirectly, in any manner whatsoever, till further directions", Sebi said on Tuesday.
In his order, Sebi Whole Time Member Rajeev Kumar Agarwal said that prima facie the acts and omissions of Ruchi Soya Industries and National Steel and Agro Industries have not only disturbed market equilibrium but also indicate manipulative and fraudulent design to form a cartel and corner the castor seed market.