Ruchi Soya shares hit upper circuit, jump 5 percent
New Delhi: Shares of Ruchi Soya surged 5 per cent today amid reports that Gautam Adani's group company has offered about Rs 6,000 crore to emerge as the highest bidder for acquisition of the bankruptcy-hit edible oil firm.
The stock gained 4.94 per cent to close at Rs 12.74 -- its upper circuit limit -- on the BSE. On NSE, shares of the company climbed 4.93 per cent to end at Rs 12.75 -- its highest trading permissible limit for the day.
In terms of equity volume, 17.18 lakh shares of the company were traded on BSE and over one crore shares changed hands on NSE during the day.
The Committee of Creditors (CoC) of Ruchi Soya, in its meeting held yesterday, opened the bids submitted by the two contenders -- Patanjali group and Adani Wilmar, which sells cooking oil under the Fortune brand.
BSE today sought clarification from Ruchi Soya Industries with reference to the news. Ruchi Soya, which is facing the insolvency proceedings, has a total debt of about Rs 12,000 crore.