The Ruchi Soya Industries Board has given its approval to change the company’s name for Patanjali Foods Limited or another name that can be provided by the company registrar.The authorities were informed of this decision in the submission of regulations on April 10. The company will also seek to evaluate the most efficient increase in synergy mode with the Patanjali Ayurveda food portfolio which in turn can result in combining the Patanjali food business with Ruchi with Ruchi Soya, he said.
The Ruchi Soya industry supported by Baba Ramdev continues to fade the center of attention lately. Recently completed its follow-up public offer (FPO) Rs 4,300 Crore where India’s Effects and Exchange have formed a new precedent that allows windows to investors to the FPO to attract their applications, quoting forbidden campaigns by companies to lure investors into this problem .
The company has last week Tweet about loan payments to banks worth Rs 2,925 Crore. By doing that, it is also a debt-free company.The stock market reacted positively to this development because Stock Ruchi Soya opened with a gain of Rs 45.55 – up 4.9 percent – on April 11 on the national stock exchange. At 1pm, the stock traded higher by Rs 47.55 or 5.15 percent of the previous closed. However, Sensex and Nifty, traded lower 0.25 and 0.41 percent.