Ruchi Soya Industries hit down limit after soaring 3 times in 22 sessions

Market players said the stock is easily prone to manipulation as hardly any shares are with the public

Shares of Ruchi Soya Industries on Monday witnessed a fall after over a month amid reports of regulatory probe. 

The stock ended the day’s trade at Rs 1,432 after getting locked in 5 per cent lower circuit — indicating only sellers no buyers at the counter. 

In the previous 22 trading sessions, the stock had hit 5 per cent upper limit daily, jumping from Rs 520 on May 27 to Rs 1,520 last Friday. 

 

Previously, the stock had hit 5 per cent lower circuit for six straight trading sessions between May 19 and May 27. 

Barring a few blips, Ruchi Soya’s share have been on a tear since trading resumed in the stock on January 17 after the acquisition by Pantanjali Ayurved.