Top headlines: Ruchi Soya shares surge; Hero Moto stock tanks 7%

Business Standard brings you the top headlines on Tuesday

Ruchi Soya zooms 20% as co says SMSes pertaining to FPO not issued by it

Shares of Ruchi Soya surged up to 20% on Tuesday after the company, through newspaper advertisements, clarified that the SMSes pertaining to investments in its follow-on public offering (FPO) have not been issued by the company or its promoters.

The advertisements reportedly came after market regulator Securities and Exchange Board of India (SEBI) directed the company to give the investors who participated in its Rs 4,300-crore follow-on public offering (FPO) the option to withdraw their bids due to "circulation of unsolicited SMSes advertising the issue".