Ruchi Soya stock jumps after posting profit in Q1FY19
Shares of Ruchi Soya jumped 4.5% on the BSE in the morning trade after company posted Q1FY19 numbers. The company reported a net profit of Rs22.6cr for the quarter ended June 30.
The company’s total income fell to Rs2,992.5cr in Q1FY19 from Rs3,280cr in the corresponding period of the previous year.
Competition Commission of India (CCI) has approved the acquisition of Ruchi Soya by Adani Wilmar, as per media reports.
Adani Wilmar had emerged as the highest bidder with an offer of about Rs6,000cr for Ruchi Soya, which is facing insolvency proceedings, report added.
Ruchi Soya Industries Ltd is currently trading up 4.45% at Rs9.39 from its previous closing of Rs8.99 on the BSE.
The scrip opened at Rs9.40 and has touched a high and low of Rs9.43 and Rs9.25 respectively.
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