Ruchi Soya Industries surged 7.94% to Rs 23.80 at 14:42 IST on BSE, with the stock extending its recent gains.
Meanwhile, the S&P BSE Sensex was down 3.49 points or 0.01% at 31,658.48. The S&P BSE Small-Cap index rose 106.38 points or 0.65% at 16,361.55.
On the BSE, 5.29 lakh shares were traded on the counter so far as against the average daily volumes of 2.02 lakh shares in the past one quarter. The stock had hit a high of Rs 24.40 and a low of Rs 22.35 so far during the day. The stock hit a 52-week high of Rs 31.80 on 14 February 2017 and a 52-week low of Rs 18.50 on 31 August 2017.
The stock had underperformed the market over the past one month till 6 September 2017, sliding 4.13% compared with the Sensex's 2.05% fall. The stock had also underperformed the market over the past one quarter, declining 1.56% as against the Sensex's 1.51% rise. The scrip had also underperformed the market over the past one year, advancing 6.78% as against the Sensex's 9.26% rise.
The small-cap company has equity capital of Rs 66.82 crore. Face value per share is Rs 2.
Shares of Ruchi Soya Industries have jumped 23.63% in three trading sessions to its ruling market price, from its close of Rs 19.25 on 4 September 2017. The stock gained 5.5% in a single trading session yesterday, 6 September 2017, triggered by the company's announcement during market hours on that day that its board given consent to explore an internal corporate restructuring exercise, which will allow the company to consider various options such as subsidiarisation or de-merger of its business units into separate entities.
This initiative will result in independent businesses, which would operate in the areas of edible oil refining and brands, palm plantations, oil seed crushing and foods, and renewable energy.
A committee has been constituted to oversee the planning and execution of this exercise and a consultant will be appointed for proposing various options followed by a detailed scheme to the board whilst ensuring a high standard of corporate governance, transparency and fairness.
Ruchi Soya Industries reported net loss of Rs 286.24 crore in Q1 June 2017 as against net profit of Rs 1.03 crore in Q1 June 2016. Net sales declined 34.1% to Rs 3261.21 crore in Q1 June 2017 over Q1 June 2016.
Ruchi Soya Industries is an agri and food FMCG company. It enjoys leadership position in soy foods category in India and is one of India's largest players in the cooking oils segment of the country.
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