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Baba ramdev ruchi soya changes name to patanjali food acquires retail stock – Business News India

Yogguru Ramdev’s Ruchi Soya Industries Limited has decided to change its name to “Patanjali Foods Limited”. In doing so, the company will take over the food retail business of Patanjali Ayurved Limited. However, the name change is subject to approval by the Ministry of Corporate Affairs and other regulatory authorities. However, in the midst of this news, there was a massive buyout of Ruchi Soya’s stock and the stock price rose by nearly 10 percent.

How much is the share price: At the close of trading on Wednesday, the share price of Ruchi Soya rose to Rs 1,188. This is an increase of up to 10 percent over the previous day. In June of last year, the stock rose to 1,377 rupees, a 52-week high. Speaking of market capitalization, it is around 43 thousand crores.

New company name: Ruchi Soya said in a statement that it will take over the manufacturing, packaging, labeling and retailing of food products for Patanjali Ayurved Limited. The transaction includes assets such as personnel transfers, contracts, licenses and permits, distribution networks and retail food business customers.

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However, Patanjali’s trademark, trademark, copyright, vehicle, debtors, cash and bank balance will not change. Let us tell you that the turnover of Patanjali Ayurved Limited for the last financial year was around Rs 10,605 crore.

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