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Ruchi Soya trades jubilantly on inking MoU with Government of Arunachal Pradesh

06 Oct 2016 Evaluate

Ruchi Soya Industries is currently trading at Rs. 23.80, up by 1.85 points or 8.43% from its previous closing of Rs. 21.95 on the BSE.

The scrip opened at Rs. 22.05 and has touched a high and low of Rs. 24.55 and Rs. 22.00 respectively. So far 279810 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 34.50 on 09-Oct-2015 and a 52 week low of Rs. 17.75 on 25-May-2016.

Last one week high and low of the scrip stood at Rs. 24.55 and Rs. 20.00 respectively. The current market cap of the company is Rs. 738.36 crore.

The promoters holding in the company stood at 56.83%, while institutions and non-institutions held 4.93% and 38.23% respectively.

Ruchi Soya Industries has signed a memorandum of understanding (MOU) with the Government of Arunachal Pradesh to boost palm oil production through development of quality palm plantations and human capacity building. Under the MOU, Ruchi Soya will promote and encourage development of oil palm in 25,000 hectares in zone IV comprising of 4 districts of the state (West Siang, East Kamang, Lower Subansri and Papumpare).

With this agreement, Ruchi Soya Industries Limited now has obtained permission for oil palm development in 45,000 hectares, covering 5 districts in the state of Arunachal Pradesh. (Through an MOU signed last year, the company obtained access of 20,000 hectares in Zone III - East Siang District).

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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