Ruchi Soya Industries is locked in lower circuit of 10% at Rs 32.25, its lowest level since April 2009, on back of heavy volumes. The stock has opened at Rs 36 and hit a high of Rs 36.95 in early morning deals on BSE.
A combined 2.67 million shares have already changed hands on the counter so far against an average sub 500,000 shares that were traded daily in past two weeks. There are pending sell orders for 3.14 million shares on BSE and NSE at 1117 hours.
Shares of edible oils maker has underperformed the market by falling 38% from Rs 52.10 on August 12, after the company reported 93% year-on-year drop in its net profit at Rs 3.07 crore for the quarter ended June 30, due to low refining capacity utilization.
The edible oil refining industry in India was reeling under the dual pressure of the downwards trend in commodity prices and steep depreciation of US dollar Indian rupee exchange rate, Ruchi Soya said in a statement.
A combined 2.67 million shares have already changed hands on the counter so far against an average sub 500,000 shares that were traded daily in past two weeks. There are pending sell orders for 3.14 million shares on BSE and NSE at 1117 hours.
Shares of edible oils maker has underperformed the market by falling 38% from Rs 52.10 on August 12, after the company reported 93% year-on-year drop in its net profit at Rs 3.07 crore for the quarter ended June 30, due to low refining capacity utilization.
The edible oil refining industry in India was reeling under the dual pressure of the downwards trend in commodity prices and steep depreciation of US dollar Indian rupee exchange rate, Ruchi Soya said in a statement.
