Shares of Adani Wilmar and Ruchi Soya have for long been among favourite picks of investors, considering their strong backing by Adani Group and Patanjali Ayurved. Ruchi Soya, which was renamed as Patanjali Foods, on June 24 is listed as Ruchi Soya Industries on NSE and BSE.
Ruchi Soya stock rose over 4 per cent today despite the firm reporting a 25.4 per cent fall in Q4 net profit. The stock gained 4.07 per cent to Rs 1139 against the previous close of Rs 1094 on BSE. Standalone profit after tax (PAT) fell to Rs 234.43 crore in the March quarter compared with Rs 314.33 crore in the corresponding quarter last year.
Shares of Ruchi Soya rose for the second straight session today despite the company filing an FIR in Haridwar to investigate the source of SMSs advising investors to participate in its follow on public offer (FPO). The development came after the market regulator SEBI, on March 28, asked the Baba Ramdev-led firm to provide an option to all investors (except anchor investors) in its follow-on public offer (FPO) to withdraw their bids due to "circulation of unsolicited SMSs advertising the issue".