Rajkotupdates.News: Ruchi Soya to be Renamed Patanjali Foods Company; Board Approves, Stock Surges
Patanjali, a well-known brand for Ayurvedic products in India, has been diversifying its business interests in the past few years. In 2019, it acquired Ruchi Soya Industries Ltd., a leading edible oil company in India. Now, Patanjali has announced that Ruchi Soya will be renamed Patanjali Foods Company, & the company’s board has approved the decision. This move is expected to bring more visibility & recognition to Patanjali’s food division & further increase its market share. This article discusses this recent development in detail.
Patanjali’s Growth Trajectory
Patanjali’s Journey So Far
Patanjali has been growing steadily in the Indian market since its inception in 2006. The company was founded by Baba Ramdev & Acharya Balakrishnan with the aim of promoting Ayurvedic products & practices. Over the years, Patanjali has expanded its product range to include food items, personal care, & home care products.
Ruchi Soya Acquisition
In 2019, Patanjali acquired Ruchi Soya Industries Ltd. for Rs. 4,350 crore ($584 million). Ruchi Soya is one of the leading edible oil companies in India, with a market share of around 20%. The acquisition was a strategic move by Patanjali to expand its presence in the food sector & increase its market share!
Ruchi Soya to be Renamed Patanjali Foods Company
The board of Ruchi Soya Industries Ltd. has approved the proposal to rename the company as Patanjali Foods Company Ltd. This move is in line with Patanjali’s strategy to consolidate its presence in the food sector.
Benefits of Renaming
The renaming of Ruchi Soya to Patanjali Foods Company is expected to bring several benefits to the company. Firstly, it will increase the visibility & recognition of Patanjali’s food division, which is currently overshadowed by, its Ayurvedic products. This move is also expected to bring more investors & customers to the company’s food division.
The market has responded positively to this announcement, & Ruchi Soya’s stock surged by over 5% on the day of the announcement. This indicates that investors have faith in Patanjali’s growth trajectory a& d are optimistic about the future of the company!
Patanjali’s decision to rename Ruchi Soya Industries Ltd. as Patanjali Foods Company Ltd. is a strategic move to consolidate its presence in the food sector. This move is expected to increase the visibility and recognition of Patanjali’s food division & bring more investors & customers to the company. The market response to this announcement has been positive, indicating that investors are optimistic about the future of Patanjali.