Ruchi Soya Industries rose 14.5% to Rs 28.1 during early morning trade on BSE in an otherwise lower market after reports that the company is expected to enter into a marketing deal with Baba Ramdev promoted Patanjali Ayurved.
Baba Ramdev and Patanjali have come to the rescue of debt ridden Ruchi Soya, according to media reports. Reports say Patanjali will start branding and marketing the edible oil produced by Ruchi Soya across its 13 facilities, which will ensure guaranteed sales to Ruchi Soya as well as cut its distribution and marketing costs.
The stock opened at Rs 26.30 and has touched a high and low of Rs 28.10 and Rs 26.30 respectively. So far 20.20 lakh shares (BSE) were traded on the counter. The current market cap of the company is Rs 917.78 crore.
The company's stock was locked in an upper circuit yesterday, up 19.95%. It was trading 14.14% higher at Rs 27.45 at 11.53 am on BSE .
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