Ruchi Soya share hit upper circuit of 5% today after the firm said it was launching 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 today against previous close of Rs 1,083.35 on BSE. Total 0.21 lakh shares changed hands amounting to turnover of Rs 2.36 crore. The share saw only buyers and no sellers.
Ruchi Soya share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages . The large cap share rose 72.9% in one year and gained 68.58% since the beginning of this year.
In a month, the stock has climbed 64.76%. Market cap of the firm rose to Rs 33,651 crore. Total 0.21 lakh shares of the firm changed hands amounting to turnover of Rs 2.38 crore on BSE.
The firm aims to use the joint branding of "Patanjali" and "Nutrela" for packaging, promotion, advertising and marketing the range of initial ten products.
It has obtained a non-exclusive renewable licence to use the "Patanjali" brand for which Ruchi Soya shall pay Patanjali Ayurved a royalty of 1% of the net manufactured volume.
The products will be distributed across India in pharmacies, general stores, e-commerce platforms, health and wellness stores, gyms etc. including Patanjali exclusive stores viz Mega Stores, Chikitsalayas and Aarogya Kendras for which the company has entered into a distributor agreement with Patanjali Ayurved Limited .