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On May 18, Rajkotupdates.news : Ruchi Soya to be Renamed Patanjali Foods Company Board Approves Stock Surges, Ruchi Soya Industries announced plans to rename the business during a board meeting. The board has decided to change the name of Ruchi Soya Industries Limited to Patanjali Foods.
About Ruchi Soya
One of India’s top producers of edible oils as well as a range of other culinary items is Ruchi Soya Industries Limited. The company was established in 1986, and Mumbai, Maharashtra, serves as its corporate headquarters. With well-known brands including Nutrela, Ruchi Gold, and Sunrich, Ruchi Soya is well-known in the Indian market.
Producing edible oils, such as soybean oil, sunflower oil, mustard oil, and palm oil, is the main business of Ruchi Soya. The company’s edible oil sector, which generates over 70% of its revenue, is its largest division. In India, Ruchi Soya has a substantial distribution network, and the company’s goods can be found in more than 100,000 retail locations.
The prominent Indian FMCG business Patanjali Ayurved Limited, noted for its emphasis on natural and Ayurvedic products, purchased Ruchi Soya in 2019. Ruchi Soya was able to broaden its product offering and grow its market share thanks to the acquisition.
Yoga guru Baba Ramdev and Acharya Balkrishna created the well-known Indian FMCG (Fast-Moving Consumer Goods) business Patanjali Ayurved Limited in 2006. The business, which has its headquarters in Haridwar, Uttarakhand, is well-known for emphasizing organic and Ayurvedic goods.
A vast variety of goods are available from Patanjali in many different areas, including food and beverages, personal care, healthcare, and home care. The company only uses natural components, and none of the items include any hazardous chemicals. Popular products from Patanjali’s product line include, among others, Patanjali Dant Kanti toothpaste, Patanjali Atta Noodles, Patanjali Honey, Patanjali Ghee, and Patanjali Amla Juice.
Patanjali Takes Over Ruchi Soya. The Brand to be Renamed as Patanjali Foods Ltd
Patanjali Foods Company Limited has replaced Ruchi Soya Industries Ltd as a significant development for the Indian FMCG sector. The company’s board of directors made this choice, and they also gave their approval for the name change. This action is anticipated to improve the company’s market position and raise investor confidence.
A step in this integration process is the rebranding of Patanjali Foods Company Limited from Ruchi Soya. The brand’s dedication to giving clients high-quality, organic, and healthful food items is reflected in the new name. Additionally, it supports Patanjali’s goal of promoting the usage of organic and Ayurvedic goods.
Investors have responded favourably to the name change announcement, as seen by the rise in the stock price of Ruchi Soya on the National Stock Exchange (NSE) following the news’ release. Since Patanjali bought Ruchi Soya in 2019, the company’s stock price has been on the rise, and the rebranding is anticipated to increase its valuation even further.
It is anticipated that the company’s ability to diversify beyond edible oils will be aided by the adoption of the new name, Patanjali Foods Company Limited. With the release of Patanjali Atta Noodles, the company has already entered the ready-to-eat food category, and it is anticipated that it would soon release further such goods.
Additionally, the new name supports Patanjali’s recent initiatives to increase its global reach. The business has already begun selling its goods in a number of nations, including the United States, and it has plans to expand into more foreign markets in the future. The company hopes that the change to Patanjali Foods Company Limited will aid in creating its brand identification in these markets and strengthening its global footprint.
For the Indian FMCG sector, the rebranding of Ruchi Soya to Patanjali Foods Company Limited is a significant move. Consumers have responded favourably to the company’s emphasis on natural and nutritious food products, and the rebranding is anticipated to further solidify its position in the industry. The action is also anticipated to increase investor confidence and draw additional investment to the business.
Rajkotupdates.news : Ruchi Soya to be Renamed Patanjali Foods Company Board Approves Stock Surges