Ruchi Soya is one of the largest manufacturers of edible oil in India. They have been acquired by Patanjali Ayurved in 2019.Ruchi Soya has been ranked at 175 in the top 250 consumer products companies, in the “Global Powers of the Consumer Products Industry 2012”, according to a report published by Deloitte Touche Tohmatsu (Deloitte).
Ruchi Soya Industries Limited, through its subsidiaries, engages in the manufacture and sale of edible oils, vanaspati, bakery fats, and soya food primarily in India. It also offers soya chunks, granules, and soya flour products.
Ramdev’s ruchi soya shares jumped to Rs1535 from Rs17 in 5 months and now are tanking.Since 29 June, stock has consistently fallen by 5% for 6 consecutive days, triggering lower circuit — levels where trading activity in a stock are suspended following a sharp fall in share prices.
On 27th January, the Ruchi soya share price was at Rs17 after Patanjali acquired it under the provisions in the Insolvency and Bankruptcy Code. It skyrocketed over the 5 months to reach at Rs1535 on 29th June, which means a jump of 8929%.The sharp increase in Ruchi Soya’s stock price came at a time the benchmark Sensex fell 11 per cent over the last five months.
But after 29th, the stock fell constantly for 6 consecutive days by 5%, triggering the lower circuit.In all, the stock price has crashed by 28%. The stock closed at Rs 1,108.20 on the Bombay Stock Exchange (BSE) Monday.