Ruchi Soya enters top 200 most valuable firms' club; m-cap tops Rs 10K cr

Currently, Ruchi Soya is trading under trade-to-trade or ‘T’ segment, where shares can be traded only for compulsory delivery basis
Ruchi Soya Industries has entered the list of top 200 most-valued companies by market capitalisation (market-cap) following a sharp run-up in its share price. At 01:45 pm, the company's m-cap stood at Rs 11,559 crore on the BSE.

Ruchi Soya Industries is at number 185 position in the overall m-cap ranking. The company stood ahead of Dalmia Bharat, GMR Infrastructure, Polycab India, Crisil, Cummins India, IDFC First Bank, ICICI Securities and Tata Communications, which have market-capitalisation of Rs 10,000 crore.

Bucking a weak broader market trend, the stock was locked in the upper circuit for the 62nd day in a row, up 5 per cent at Rs 391 on the BSE on Wednesday. Since January 27, 2020 -- when it was re-listed on the stock exchanges after consolidation of equity shares of the company -- the company's stock price has appreciated by 23-fold from the level of Rs 16.89 on the BSE.

In July 2019, the National Company Law Tribunal (NCLT) had cleared the Rs 4,350-crore bid by yoga- exponent Ram Dev-run Patanjali Ayurved to take over edible oil player Ruchi Soya. The amount infused in a special purpose vehicle 'Patanjali Consortium Adhigrahan Private Limited', which amalgamated with Ruchi Soya.

The company said, out of the total Rs 4,235 crore to be used for settlement of claims of creditors, Rs 4,005 crore has been used to settle creditors till December 31, 2019. While the balance, along with Rs 115 crore which would be used for capital expenditure and working capital requirements of Ruchi Soya, is kept in a separate escrow account, it added.

Meanwhile, for October-December 2019 quarter (Q3FY20), Ruchi Soya posted a 24 times rise in profit before exceptional items and tax at Rs 151 crore against Rs 6.29 crore during the same quarter last fiscal. The company’s revenue from operations grew 6.9 per cent at Rs 3,713 crore from Rs 3,474 crore in the corresponding quarter of previous fiscal.

Currently, Ruchi Soya is trading under trade-to-trade or ‘T’ segment, where shares can be traded only for compulsory delivery basis. It means trade-to-trade shares cannot be traded intraday. Each share purchased/sold which are parts of this segment need to be taken delivery by paying full amount.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel