Ruchi Soya zooms 20% on ties-up with Patanjali Ayurved
The stock locked in upper circuit of 20% at Rs 30.80 on the BSE on back of heavy volumes
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Ruchi Soya
Ruchi Soya Industries was locked in upper circuit of 20% at Rs 30.80 on the BSE after the company said that it has signed agreements with Patanjali Ayurved for physical refining and packaging of edible oils.
“The company has signed agreements with Yogrishi Baba Ramdev Ji promoted Patanjali Ayurved for physical refining and packaging of edible oils,” Ruchi Soya Industries said in a release.
Under the terms of the agreements, Ruchi Soya would process the crude oil provided by Patanjali and pack the refined oil as per their specifications, it added.
The agreements are for an initial period of three years.
Commenting on the tie-up, Dinesh Shahra, Managing Director, Ruchi Soya Industries said, “We have been looking at opportunities to explore optimal use of unutilized capacities for crushing, refining and packaging edible oils with various parties. The agreement with Patanjali Ayurved is a win-win situation. We will be able to utilize idle capacities, and work with Patanjali to enable them to supply quality refined oils to the Indian market.”
Ruchi Soya currently has the largest edible oil refining capacity in India of 3.3 million metric tonnes per annum across 13 facilities.
The trading volumes on the counter jumped more than 15-fold with a combined 6.54 million shares changing hands on the NSE and BSE. There were pending buy orders for 1.25 million shares on both the exchanges at 03:27 pm.
“The company has signed agreements with Yogrishi Baba Ramdev Ji promoted Patanjali Ayurved for physical refining and packaging of edible oils,” Ruchi Soya Industries said in a release.
Under the terms of the agreements, Ruchi Soya would process the crude oil provided by Patanjali and pack the refined oil as per their specifications, it added.
The agreements are for an initial period of three years.
Commenting on the tie-up, Dinesh Shahra, Managing Director, Ruchi Soya Industries said, “We have been looking at opportunities to explore optimal use of unutilized capacities for crushing, refining and packaging edible oils with various parties. The agreement with Patanjali Ayurved is a win-win situation. We will be able to utilize idle capacities, and work with Patanjali to enable them to supply quality refined oils to the Indian market.”
Ruchi Soya currently has the largest edible oil refining capacity in India of 3.3 million metric tonnes per annum across 13 facilities.
The trading volumes on the counter jumped more than 15-fold with a combined 6.54 million shares changing hands on the NSE and BSE. There were pending buy orders for 1.25 million shares on both the exchanges at 03:27 pm.