RajkotUpdates.News: Ruchi Soya to be Renamed Patanjali Foods Company Board Approves Stock Surges
Patanjali Ayurveda Limited, the Indian multinational consumer goods company, is all set to rebrand Ruchi Soya Industries, which it acquired in 2019, the decision was taken by the company’s board. Which approved the renaming of Ruchi Soya as “Patanjali Foods Limited”!
Introduction
Patanjali Ayurveda Limited is a well-known brand in the FMCG sector, known for its Ayurvedic products. In 2019, the company acquired Ruchi Soya Industries for a sum of INR 4,350 crore, With this acquisition, Patanjali Ayurveda entered the edible oil & soya chunks market, Now, the company is planning to rebrand Ruchi Soya Industries as “Patanjali Foods Limited.!
Reasons for Rebranding
The decision to rename Ruchi Soya Industries has been taken to integrate the company with Patanjali Ayurveda’s branding strategy. The company aims to strengthen its position in the FMCG sector & wants to provide its customers with a wide range of products under one brand name! The rebranding will help Patanjali Ayurveda to consolidate its position in the edible oil and soya chunks market, where it faces stiff competition from established players like Marico, Adani Wilmar, & Cargill!
Approval from the Board
The decision to rename Ruchi Soya Industries as “Patanjali Foods Limited” was taken by the company’s board! The board approved the proposal, & the necessary regulatory approvals are being sought. Once the approvals are received, the company will initiate the process of rebranding!
Impact on the Market
The decision to rename Ruchi Soya Industries has had a positive impact on the company’s stock price, the stock surged by almost 5% after the announcement. The market believes that the rebranding will help Patanjali Ayurveda to consolidate its position in the FMCG sector & provide a boost to its revenue!
Conclusion
Patanjali Ayurveda Limited’s decision to rename Ruchi Soya Industries as “Patanjali Foods Limited” is a strategic move aimed at consolidating its position in the FMCG sector. The rebranding will help the company to integrate Ruchi Soya, Industries with its existing product line & strengthen its position in the edible oil & soya chunks market, The decision has been welcomed by the market, which is optimistic about the company’s growth prospects!
FAQs
- What is Patanjali Ayurveda Limited?
Patanjali Ayurveda Limited is an Indian multinational consumer goods company that produces Ayurvedic products! - When did Patanjali Ayurveda acquire Ruchi Soya Industries?
Patanjali Ayurveda acquired Ruchi Soya Industries in 2019! - Why is Patanjali Ayurveda renaming Ruchi Soya Industries?
Patanjali Ayurveda is renaming Ruchi Soya Industries to integrate it with its branding strategy and consolidate its position in the FMCG sector! - What impact has the decision to rename Ruchi Soya Industries had on the market?
The decision has had a positive impact on the company’s stock price, which surged by almost 5% after the announcement! - What are the regulatory approvals required for the rebranding process?
The necessary regulatory approvals are being sought, and once received, the company will initiate the process of rebranding!
