Low number of free-float pushes Ruchi Soya Industries to record high

History is repeating itself with Ruchi Soya Industries, which has seen an unprecedented rise in market capitalisation in the past six months, thanks to a combination of a very low number of free-float or non-promoter shares and thin trading on the counter. The edible oil maker’s market capitalisation is up nearly 300 times since the beginning of November last year and 70 times since its acquisition by Pantanjali Ayurved under the Insolvency and Bankruptcy Code (IBC). At the close of trading on Friday, Ruchi Soya’s market capitalisation was nearly Rs 35,000 crore against.....

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