Rs 16.9 to Rs 1,500: Ruchi Soya stocks on dream run

Shares of the company have surged a whopping 8,800 per cent in the past five months. On January 27, the day it was re-listed it closed at Rs 16.90 and on Friday it closed at its all-time high of Rs 1,507.30 a scrip.

The stock opened for trading again after Patanjali Ayurved acquired it for Rs 4,350 crore last year through a corporate insolvency resolution process.

Its market capitalisation has surged to Rs 44,592.11 crore, making it feature among the top 100 most valued companies in India in terms of market capitalisation. Its market cap surpassed that of another FMCG major Marico Ltd, whose market capitalisation stood at Rs 44,495.88 crore.

Since its resolution and re-listing, investors have been very bullish on the stock and those investors who did not bet on the restructured company’s shares during the re-listing are repenting now.

Assigning a ‘stable’ rating outlook for its bank loan facilities last month, Brickwork Ratings had said that Ruchi Soya’s liquidity position remains adequate, considering the absence of fixed debt obligations during FY21, a low average collection period and the availability of unencumbered liquid 1 assets of over Rs 380 crore for meeting its required working capital needs.