Ruchi Soya zooms 20% as co says SMSes pertaining to FPO not issued by it

Market regulator Sebi had directed Ruchi Soya to give the option to the FPO investors to withdraw their bids due to 'circulation of unsolicited SMSs advertising the issue'

Shares of Ruchi Soya spurted 20 per cent to Rs 978 apiece in Tuesday's intra-day trade on the BSE, but pared gains later, after the company clarified that the SMSes pertaining to investments in its follow-on public offering (FPO) have not been issued by the company or its promoters.

At 11:11 AM, shares of the company were up 12.5 per cent on the BSE, at Rs 917, as against a 0.34 per cent rise in the benchmark S&P BSE Sensex. With this, the stock snapped its 4-day losing run, having fallen 11 per cent during the period. Frontline Sensex index,