Rajkotupdates.news : Ruchi soya to be renamed patanjali foods company board approves stock surges
Ruchi Soya to be Renamed Patanjali Foods Company, Board Approves; Stock Surges
Rajkotupdates.news : Ruchi soya to be renamed patanjali foods company board approves stock surges, Ruchi Soya Industries Ltd, one of India’s leading food and edible oil companies, has been given a new name – Patanjali Foods Company Limited. The decision to rename the company was taken at a board meeting held on Thursday, 29th April 2023. The move is expected to boost the company’s image and strengthen its association with the Patanjali brand.
The board of directors of Ruchi Soya Industries Ltd. has approved the proposal to change the name of the company to Patanjali Foods Company Limited. The decision was taken after considering the current market trends, the company’s strategic vision, and the need for a stronger brand identity. The new name will come into effect after all the necessary regulatory approvals have been obtained.
Ruchi Soya Industries Ltd. was acquired by Patanjali Ayurved Limited, a leading Indian consumer goods company, in 2019. Since then, the company has been undergoing a transformation under the leadership of Baba Ramdev, the founder of Patanjali Ayurved Limited. The new name is seen as a logical step in the integration process and will help the company leverage the strength of the Patanjali brand.
The stock market has reacted positively to the news, with the stock of Ruchi Soya Industries Ltd. surging by over 6% on the BSE on Friday, 30th April 2023. This is seen as a sign of investor confidence in the company’s future prospects.
Rajkotupdates.news : Ruchi soya to be renamed patanjali foods company board approves stock surges, Ruchi Soya Industries Ltd. is a leading player in the edible oil and soybean products segment in India. The company has a strong presence in both the B2B and B2C segments, with brands like Nutrela, Mahakosh, Sunrich, and Ruchi Gold. The company also exports its products to over 40 countries across the globe.
The company has been growing steadily over the years, with a revenue of Rs. 21,537 crores in the fiscal year 2021-22, a growth of 8.4% over the previous year. The company has also been expanding its product portfolio and launching new products to cater to changing consumer preferences.
Rajkotupdates.news : Ruchi soya to be renamed patanjali foods company board approves stock surges, The renaming of Ruchi Soya Industries Ltd. to Patanjali Foods Company Limited is expected to give a boost to the company’s growth trajectory. The Patanjali brand is known for its focus on natural and Ayurvedic products, and the company is expected to leverage this to create a strong brand identity for its food products as well.
conclusion
the decision to rename Ruchi Soya Industries Ltd. to Patanjali Foods Company Limited is a strategic move that is expected to strengthen the company’s position in the market. With the Patanjali brand behind it, the company is well poised to tap into the growing demand for natural and healthy food products in India and around the world.
FAQ
Q: What is Ruchi Soya Industries Ltd.?
A: Ruchi Soya Industries Ltd. is one of India’s leading food and edible oil companies.
Q: Why is Ruchi Soya Industries Ltd. changing its name?
A: The board of directors of Ruchi Soya Industries Ltd. has approved the proposal to change the name of the company to Patanjali Foods Company Limited to strengthen its association with the Patanjali brand.
Q: When will the new name come into effect?
A: The new name will come into effect after all the necessary regulatory approvals have been obtained.
Q: Who owns Ruchi Soya Industries Ltd.?
A: Ruchi Soya Industries Ltd. was acquired by Patanjali Ayurved Limited in 2019.
Q: What is the reaction of the stock market to the news of the name change?
A: The stock of Ruchi Soya Industries Ltd. surged by over 6% on the BSE on the day after the announcement.
Q: What are some of the popular brands under Ruchi Soya Industries Ltd.?
A: Ruchi Soya Industries Ltd. has popular brands like Nutrela, Mahakosh, Sunrich, and Ruchi Gold.
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