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Ruchi Soya to change the name of the company to Patanjali Foods, the company’s board has approved

Ruchi Soya Share Update: The name of Baba Ramdev’s company Ruchi Soya Industries Ltd is going to change soon. The Board of Directors of Ruchi Soya has decided to rename Ruchi Soya Industries as Patanjali Foods Limited. The company has filed with the stock exchange and informed about the decision of the board of directors.

The Board meeting of the Company was held on 10th April in which the Directors have given in-principle approval to evaluate the most efficient way of enhancing synergy with the food portfolio of Patanjali Ayurved Ltd. Ruchi Soya has also authorized the officers of the Company to negotiate, finalize, execute and deliver the terms and conditions of the proposed transaction.

Since this news came to the fore, the stock of Ruchi Soya is witnessing a great rise. The share of Ruchi Soya Industries Ltd. is trading at Rs 972 per share with a gain of 5.24 per cent. Earlier this morning the stock opened at Rs 969 on the start of trading and went up to the highest level of Rs 999.45. It is worth mentioning that Ruchi Soya had brought FPO (Follow On Public Offering) at a price of Rs 650. At that level, the stock of Ruchi Soya has given a return of 49 percent to its investors.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from digitnews.in Also investing money is never advised here.)

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