On 27 January 2020 Ruchi Soya’s share price was just 17 rupees. Its shares have changed dramatically in the last one and a half years.
Patanjali Natural Biscuits business now with Ruchi Soya.
Once again, there is a bump in the shares of Baba Ramdev’s company Ruchi Soya. For the last six trading sessions, it has been steadily increasing. There is a big reason behind this boom. On 11 May Ruchi Soya Industries announced that it would acquire the biscuit business of Patanjali Natural Biscuits Private Limited (PNBPL) for 60 crores. In the information given to the Regulatory, it was said on behalf of the company that the deal has been approved by the board on May 10. After the arrival of this news, its stock is not taking the name of stoppage. From 10 till now, the stock has gained nearly 60 per cent.
The real story of Ruchi Soya started in January 2020. Patanjali acquired this company under the insolvency process. On January 27, the stock was again listed on the stock market and its price was 17 rupees. From 28 January to 18 May 2020, its stock was continuously closing with the Upper Circuit. The stock closed at a level of Rs 706 within just four months. After the fall of some trading sessions, it started to close again from May 28 onwards. On May 28, the share price was Rs 545 and till June 26 it continued to have an upper circuit and by the time its price reached Rs 1519, its all-time high price. After this, the stock kept going up and down.
News of the Biscuit business acquisition came on 10 May
This share is in discussion amid the new wave of Corona. When the market was closed on May 7, the closing price of Ruchi Soya’s stock was 675 rupees. After the weekend, when the market opened on May 10, there was news about the biscuit business on the same day and the stock closed at Rs 735 with a gain of about 9 per cent. Its stock rose by 3.50 per cent the next day. It saw a fall of 2 per cent and Aadhaar per cent in its two trading sessions, after which it has been looking at an upper circuit for the last six consecutive sessions.
After the deal, up to 60 percent so far
On a weekly basis, its stock has risen 5 per cent in the previous week, about 38 per cent in the week behind it and about 10 per cent in the week behind it. After this news came out, the trading volume of this stock has also risen significantly. It is seeing an average speed of 10-12 times. Since the news of the deal came to light, Ruchi Soya shares have gained about 58 percent so far.
1519 all time high
Ruchi Soya has a 52-week high of Rs 1519 (also an all-time high) and the lowest level is Rs 403. The company’s market cap is around 32 thousand crores. The promoter holds a 98.90 percent stake in this company. Public holds a mere 1.1 percent stake. Patanjali Ayurved Limited holds the maximum share of 48.17 per cent in promoter shares while Divya Yog Mandir Trust holds 20.28 per cent in it.
Also read, Great opportunity for Coders, participate in the Contest and get a job in a giant company like TCS
Also read, what has the Tata Steel Company announced to its employees that it is getting accolades across the world?