Ruchi Soya has been hitting the 10% UC for two consecutive days now. Yesterday, the moment is opened for trade, it hit the UC at Rs.8.19 and today, it hit the 10% UC at Rs.9.
The stock is reacting to the news that Patanjali Ayurved has won the approval to take over edible oil firm Ruchi Soya.
The committee of creditors (CoC) of the debt-laden firm voted in favour of Patanali Ayurved’s Rs.4,350-crore bid. Around 96% of the voters were in favour of Patanjali.
This news of Patanjali comes on the back of previous failed takeover attempt by Adani Wilmar last year.