Ahead of its Q4 results of FY 2020, shares of edible oil company Ruchi Soya Industries surged 5% to hit a record high price of Rs. 1507.30 per share on the BSE. The shares of the company have been locked in the upper circuit for the 22nd straight trading day.
After Baba Ramdev-led Ayurveda firm Patanjali took over the company at a financial consideration of Rs. 4350 crore, the stock after consolidation of equity shares was relisted on January 27, 2020. And since then from a price of Rs. 16.90 per share it has rallied a whopping 90 folds.
And this continuous spurt in its share price has resulted in the company's entry into the list of 100 most valued firms by market capitalization or m-cap.
As at 1:52 pm on June 26, 2020, the stock of Ruchi Industries commanded a market cap of Rs. 45592 crore, surpassing companies such as Marico and United Spirits, which as per the BSE data command a market cap of less than Rs. 45000 crore.