Ruchi Soya stock is creating buzz in the stock market by its rising trend in the bear market.It hit a 52 weeks high of 122.45 on 20 March. Stock closed with gain of 4.97%.
Ruchi Soya shares have outperformed the NIFTY and SENSEX. In the last 3 months, NIFTY and SENSEX have corrected more than 30 %. Last week also share was up in all 5 trading days.In the same period NIFTY and SENSEX have seen more than 10 % despite Friday rally.In fact, stock have witnessed only upward movement since Jan 27,2020.
Ruchi Soya has recorded a 677% jump in share price till Friday in just the last three months. When we look fat the last 6 months again, figures are terrific and incredible ; just more than 3000%! Share was trading around 4.4 Rs in late September.
Company is engaged in manufacturing a wide range of food products such as cooking oils, soya food, bakery and vanaspati fat. It is a market leader in edible oil production. It has a portfolio of trusted brands like Nutrela, Mahakosh, Sunrich and Ruchi Gold.
Ruchi Soya is acquired by Patanjali and promoters now hold 98.87 % shares in the company as per NSE data.Public shareholding is just 1.12%.