Ruchi Soya to be Renamed Patanjali Foods Company; Board Approves; Stock Surges
Ruchi Soya Industries Limited, an edible oil and soya foods manufacturer in India, has been approved to be renamed as Patanjali Foods Company. This move comes after the company was acquired by Patanjali Ayurved, an Indian FMCG company, in 2019. The decision was made by the Board of Directors of Ruchi Soya Industries Limited in a meeting held on April 8, 2023. The stock of Ruchi Soya surged after the announcement was made, with investors anticipating the benefits of being associated with the well-known Patanjali brand!
What is Ruchi Soya Industries Limited?
Ruchi Soya Industries Limited is a company based in India that specializes in the production of edible oils and soya foods. The company was founded in 1986 & has since grown to become a leading player in the Indian FMCG sector.
Who is Patanjali Ayurved?
Patanjali Ayurved is an Indian FMCG company that was founded in 2006 by Baba Ramdev & Acharya Balkrishna. The company is known for its range of Ayurvedic products & has been growing rapidly in recent years.
The Acquisition of Ruchi Soya by Patanjali Ayurved
In 2019, Patanjali Ayurved acquired Ruchi Soya Industries Limited in a deal worth Rs 4,350 crore. The acquisition was aimed at expanding Patanjali’s presence in the Indian FMCG sector and strengthening its position in the edible oil & soya foods segment.
The Renaming of Ruchi Soya to Patanjali Foods Company
The decision to rename Ruchi Soya Industries Limited as Patanjali Foods Company was made by the Board of Directors of the company in a meeting held on April 8, 2023. The move is aimed at further strengthening the association of Ruchi Soya with the well-known Patanjali brand & is expected to result in increased brand recognition & loyalty.
The Impact of the Renaming on Ruchi Soya’s Stock Price
The announcement of the renaming of Ruchi Soya to Patanjali Foods Company led to a surge in the stock price of the company. Investors are anticipating the benefits of being associated with the well-known Patanjali brand, which is expected to result in increased sales & profits for Ruchi Soya.
The Benefits of the Renaming for Ruchi Soya and Patanjali Ayurved
The renaming of Ruchi Soya to Patanjali Foods Company is expected to result in several benefits for both companies. Firstly, it is expected to increase brand recognition & loyalty for Ruchi Soya, which will lead to increased sales & profits. Secondly, it will strengthen the association of Ruchi Soya with the well-known Patanjali brand, which is expected to result in increased consumer trust & confidence. Finally, it will further expand the presence of Patanjali Ayurved in the Indian FMCG sector, which is expected to result in increased market share & profits for the company!
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rajkotupdates.news: ruchi soya to be renamed patanjali foods company board approves stock surges
The renaming of Ruchi Soya Industries Limited as Patanjali Foods Company is a strategic move that is expected to benefit both Ruchi Soya and Patanjali Ayurved. The move is aimed at increasing brand recognition & loyalty, strengthening the association of Ruchi Soya with the Patanjali brand, & expanding the presence of Patanjali Ayurved in the Indian FMCG sector. The surge in the stock price of Ruchi Soya after the announcement is a testament to the confidence of investors in the benefits of the move.
