The shares of Ruchi Soya have been rising continuously for the last two months. The stock of the company has increased by more than 100 percent during this period.
New Delhi. The subsidiary company of Patanjali Ayurved of yoga guru Baba Ramdev, who came into the limelight by raising questions on allopathy, has made investors silver. It has doubled investors’ money in just two months. That is, if someone has bought shares worth one lakh rupees, then in two months the amount has become two lakh rupees. The name of the company is Ruchi Soya Industries.
Ruchi Soya’s shares have risen more than 100 per cent in the last two months. On March 31, 2021, the stock closed at Rs 641.35 and today the stock reached Rs 1316.75 on BSE. During this, the stock registered a rise of 105 percent. During this, the Sensex rose 5.57 percent. At the same time, the market cap of the company has increased by Rs 19,723 crore since the end of March. The market was Rs 18,973.76 crore on March 31, which increased to Rs 38,697.48 crore today.
Ruchi Soya’s stock rose due to the buyout of the business of Patanjali Natural Biscuits Pvt Ltd. Patanjali Natural Biscuit Pvt Ltd. This came after the announcement of buying the business of Rs.60.02 crore. Its board of directors has approved signing of business transfer agreement with Patanjali Biscuits on May 10. This acquisition will be completed in the next two months.
The company was once under the burden of debt, Baba bought it cheaply
Ruchi Soya was a debt-ridden company which was bought by Baba Ramdev’s company Patanjali Ayurved in 2019. PennyBL did a business of Rs 448 crore in the financial year 2019-20. Ruchi Soya owns food brands Ruchi Gold, Mahakosh, Nutrela and Ruchi Star.
Income increased from Rs 3725 crore to Rs 4475 crore
Ruchi Soya had announced its third quarter results in February 2021. The company’s profit stood at Rs 227 crore in the October-December quarter. At the same time, the company’s income increased from Rs 3725 crore to Rs 4475 crore during this period.