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Ruchi Soya Industries stock rallies 14%

The company faces claim of Rs12,000cr and was pushed into the auction process as part of the government’s drive to clear bad loans choking credit at Indian banks, the report added.

Ruchi Soya Industries stock rallied 14% on the BSE. Patanjali Ayurved is said to have made the highest offer for Ruchi Soya Industries that is undergoing bankruptcy process, as per a media report. The company faces claim of Rs12,000cr and was pushed into the auction process as part of the government’s drive to clear bad loans choking credit at Indian banks, the report added.

Patanjali Ayurved has made a bid of Rs4,000-4,500cr for Ruchi Soya, beating Adani Wilmar, Godrej Agrovet and Emami’s offers. Adani Wilmar has made the second highest offer for Ruchi Soya.

The stock is currently trading at Rs15.15, up by Rs1.75 or 13.06% from its previous closing of Rs13.40 on the BSE. The scrip opened at Rs14.75 and has touched a high and low of Rs16.05 and Rs14.55 respectively.