Patanjali’s Appetizing Takeover: : Ruchi Soya to be Renamed Patanjali Foods Company Board Approves Stock Surges

    Exploring all about : ruchi soya to be renamed patanjali foods company board approves stock surges

    In a regulatory disclosure today, Patanjali Foods announced that by Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, they have been informed via an email from the Ministry of Corporate Affairs dated June 27, 2022. The email stated that a new “Certificate of Incorporation due to a name change” was issued on June 24, 2022, by the Registrar of Companies in Maharashtra, Mumbai (attached copy). Please be aware that the company’s name has been altered from “RUCHI SOYA INDUSTRIES LIMITED” to “PATANJALI FOODS LIMITED,” effective June 24, 2022. The company submits the necessary paperwork for the name change to the Stock Exchanges. Read on to know more about : ruchi soya to be renamed patanjali foods company board approves stock surges.

    In 2019, Baba Ramdev’s Patanjali Ayurveda purchased Ruchi Soya for ₹4,350 crore via an insolvency process. Patanjali Ayurved Ltd recently divested its retail food segment to its affiliate, Ruchi Soya Industries Ltd, for ₹690 crores to focus on its core businesses in non-food, traditional medicine, and wellness. Ruchi Soya successfully raised ₹4,300 crore in a follow-on public offering (FPO), primarily to settle outstanding debts. Ruchi Soya share price NSE is quite lucrative at current position.

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    Compared to the corresponding quarter of the previous year, the standalone net profit of Ruchi Soya Industries Ltd. experienced a 25% decline, amounting to Rs. 234.33 crores in March 2022. The company’s overall revenue rose to ₹6,676.19 crores in the fourth quarter, up from ₹4,859.5 crores during the same period last year. Throughout 2021-2022, net profit expanded from Rs. 680.77 crore to Rs. 806.3 crore. Additionally, throughout the fiscal year 2021-2022, total earnings escalated to ₹24,284.38 crore, as opposed to ₹16,382.97 crore in 2020-2021. Before buying this stock, you must gather more information about NSE: Patanjali.

    All these positive aspects and cues have contributed to the Ruchi share price. The traders also put their confidence on this stock. This is certainly considered to be another reason for the increased Patanjali share price NSE.

    Ruchi Soya distributes its products under various brand names, such as Ruchi Gold, Mahakosh, Sunrich, Nutrela, Ruchi Star, and Ruchi Sunlight. Additionally, the company generates eco-friendly wind energy and cultivates oil palm plantations. Now you know about : ruchi soya to be renamed patanjali foods company board approves stock surges.

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    Josie Patra
    Josie Patra is a veteran writer with 21 years of experience. She comes with multiple degrees in literature, computer applications, multimedia design, and management. She delves into a plethora of niches and offers expert guidance on finances, stock market, budgeting, marketing strategies, and such other domains. Josie has also authored books on management, productivity, and digital marketing strategies.

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