Ruchi Soya hits upper circuit on buyout of Patanjali's food retail business

The board also approved to change company's name from Ruchi Soya Industries to Patanjali Foods.

Shares of Ruchi Soya Industries froze at 10 per cent upper circuit and hit over 10-month high of Rs 1,188.60 on the BSE in Wednesday’s intra-day trade. The spike comes after the company announced complete acquisition of Patanjali Ayurved's food business for Rs 690 crore in order to accelerate transition into a leading fast moving consumer goods (FMCG) company. The board also approved to change the company's name from Ruchi Soya Industries to Patanjali Foods.

The stock traded at its highest level since June 30, 2021. Till 15:12 pm; a combined 17.6 million equity shares changed hands with pending