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Ruchi Soya gains on entering into MoU with Solidaridad

11 Jun 2015 Evaluate

Ruchi Soya Industries is currently trading at Rs. 40.50, up by 0.35 points or 0.87% from its previous closing of Rs. 40.15 on the BSE.

The scrip opened at Rs. 40.20 and has touched a high and low of Rs. 40.55 and Rs. 39.70 respectively. So far 24,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 51.85 on 23-Feb-2015 and a 52 week low of Rs. 33.55 on 17-Dec-2014.

Last one week high and low of the scrip stood at Rs. 42.25 and Rs. 39.50 respectively. The current market cap of the company is Rs. 1,352.00 crore.

The promoters holding in the company stood at 55.73% while Institutions and Non-Institutions held 18.28% and 25.99% respectively.

Ruchi Soya Industries has entered into a Memorandum of Understanding (MoU) with Netherlands-based Solidaridad for increasing the palm oil yield in 50,000 acres of land, at an investment of 4.5 million euros (about Rs 32 crore). The company will invest 55% of the total investment, while the remaining 45% will be invested by its Netherlands partner.

The project for increasing the yield will be completed in next 4-5 years and its aim is to by saving at least 1.5 trillion of waters raise India's palm oil production and generate employment in rural areas. The project will work on principle of 'Make in India' and 'More Crop per Drop'.

Ruchi Soya is India’s leading FMCG Company, India’s number one cooking oil and soy food maker and marketer. It is also the highest exporter of soya meal, lecithin and other food ingredients from India.


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