Share of Ruchi Soya hit upper circuit of 5% ahead of the Baba Ramdev-owned edible oil firm’s Q4 and fiscal earnings set to be announced today.
Ruchi Soya stock hit 5% upper circuit for the second consecutive session today. On BSE, the stock rose 5% to Rs 1194.55 against previous close of Rs 1137.70 on BSE.
Ruchi Soya share has gained 10.24% in the last 2 days. The stock opened with a gain of 4.42% at Rs 1187.95 on BSE.
Ruchi Soya share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The share has gained 77% since the beginning of this year but fallen 16.58% in one year. Total 0.10 lakh shares amounting to turnover of Rs 1.21 crore changed hands on BSE.
Market cap of the firm rose to Rs 35,339 crore on BSE.
Of late, Ruchi Soya has been in news for several positive reasons.
On May 11 this year, Ruchi Soya Industries announced the acquisition of biscuits business from Patanjali Natural Biscuits Pvt Ltd (PNBPL) in a slump sale at Rs 60.02 crore. The company said its Board of Directors on May 10 approved the signing of a Business Transfer Agreement (BTA) in this regard with PNBPL.
In early June, Ruchi Soya said it would launch 100% vegetarian, preservative free nutraceutical products to be marketed under “Patanjali” and “Nutrela” branding in the medical, sports and general nutrition category.
In Q3 of previous fiscal, Ruchi Soya reported a 50.26 per cent year-on-year (YoY) growth in profit after tax (PAT) at Rs 227.44 crore. On a sequential basis, profit of soya food brand Nutrela-maker jumped 79.46 per cent from Rs 126.74 crore in September quarter of 2020 (Q2 FY21).
Ruchi Soya was acquired by a consortium led by Baba Ramdev’s Patanjali Ayurveda in December 2019.
The edible oil manufacturer has Baba Ramdev, his younger brother Ram Bharat and close aide Acharya Balkrishna on its board. It posted a 20.13 per cent YoY and 12.15 per cent QoQ rise in total income at Rs 4,475.60 crore in Q3 FY21.
On the operational front, the company delivered EBITDA of Rs 351.71 crore, registering 36.06 per cent increase QoQ and 76.78 per cent YoY.
