Share of Ruchi Soya has delivered nearly 96% returns to its shareholders in over two months. The stock, which closed at Rs 641.35 on March 31, 2021 was stuck in the upper circuit of 5% at Rs 1254.05 on BSE today. The share is locked in upper circuit of 5% for the third day in a row. In comparison, Sensex has risen merely 5.57% during the period.
Ruchi Soya stock has risen 19.26% in last four sessions.
Market cap of the firm has risen by Rs 18,126 crore since March-end. On March 31, the market cap stood at Rs Rs 18,973.76 crore which rose to Rs 37,099 crore toda.
Ruchi Soya stock opened with a gain of 2.8% at Rs 1,227.85 against previous close of Rs 1,194.35.
The share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The share has gained 73% in one year and risen 85.85% since the beginning of this year. The huge rise in the share can be attributed to the reports of the firm's likely IPO, launch of 100% vegetarian, preservative free nutraceutical products.
A decision by Baba Ramdev-led Patanjali Ayurved to transfer the biscuits business of Patanjali Natural Biscuits Private Limited (PNBPL) to the firm for just Rs 60 crore on May 10 has also boosted the stock.
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. Ruchi Soya share stood at Rs 759.70 on the same day. Boosted by the news of biscuits acquisition business, the stock rose Rs 366.3 or 48% to Rs 1,126 on May 25.
On May 28, share of Ruchi Soya Industries, owned by Ramdev's Patanjali Ayurved group, hit the 5% upper circuit amid reports that the company plans to raise funds via a follow on public offer (FPO). The stock rose to Rs 1,070.85, up 5% on BSE
On June 6 this year, the stock hit upper circuit of 5% after the firm said would launch 100% vegetarian, preservative free nutraceutical products to be marketed under "Patanjali" and "Nutrela" branding in the medical, sports and general nutrition category.
Ruchi Soya stock opened with a gain of 5% at Rs 1137 against previous close of Rs 1,083.35 on BSE. It closed at same level during the session.
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.