Yogguru Ramdev’s company Ruchi Soya Industries Limited has decided to change its name to “Patanjali Foods Limited”. With this, the company will take over the food retail business of Patanjali Ayurved Limited. However, the change in name is subject to the approval of the Ministry of Corporate Affairs and other regulatory authorities. However, in the midst of this news, there was tremendous buying of Ruchi Soya’s stock and the stock price rose by about 10 percent.
How much is the share price: At the end of trading on Wednesday, the share price of Ruchi Soya went up to Rs 1188. This is an increase of up to 10 per cent from the day before. In June last year, the stock went up to Rs 1,377, which is a 52-week high. Talking about the market capital, it is about 43 thousand crores.
New company name: Ruchi Soya said in a filing that it would undertake manufacturing, packaging, labeling and retail trading of food products of Patanjali Ayurved Limited. The deal includes assets such as transfer of employees, contracts, licenses, permits, distribution networks and customers of the food retail business.
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However, Patanjali’s brand, trademark, copyright, vehicle, debtors, cash and bank balance will not change. Let us tell you that the turnover of Patanjali Ayurved Limited for the last financial year was around Rs 10,605 crore.