From Rs 16.9 to Rs 1,500, Ruchi Soya shares is on dream run since it relisted

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2020-06-29 04:36:36

Mumbai, June 28 (IANS) FMCG major Ruchi Soya Industries, which went through an insolvency resolution process and acquired by Patanjali Ayurved, has seen a dream run in the stock market since its relisting in January.

Shares of the company have surged a whopping 8,800 per cent in the past five months. On January 27, the day it was relisted it closed at Rs 16.90 and on Friday it closed at its all-time high of Rs 1,507.30 a scrip.

The stock opened for trading again after Patanjali Ayurved acquired it for Rs 4,350 crore last year through a corporate insolvency resolution process.

Its market capitalisation has surged to Rs 44,592.11 crore, making it feature among the top 100 most valued companies in India in terms of market capitalisation. Its market cap surpassed that of another FMCG major Marico Ltd, whose market capitalisation stood at Rs 44,495.88 crore.

Since its resolution and relisting, investors have been very bullish on the stock and those investors who did not bet on the restructured company's shares during the relisting are repenting now.

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