Rajkotupdates.news : ruchi soya to be renamed patanjali foods company board approves stock surges – In a recent move, Ruchi Soya, a leading Indian FMCG company, has been renamed as Patanjali Foods Company. The announcement came after the board of directors of Ruchi Soya approved the name change in a meeting held on 3rd April 2023. The decision to rename the company was taken to align it with the brand image of its parent company, Patanjali Ayurved.
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Ruchi Soya’s Journey
Ruchi Soya has a long and illustrious history. The company was founded in 1986 by Dinesh Shahra and his family in Indore. Ruchi Soya has grown rapidly since its inception, and it is now one of the leading FMCG companies in India. The company is known for its edible oils, soy-based food products, and dairy products.
In 2019, Ruchi Soya was acquired by Patanjali Ayurved, one of India’s largest FMCG companies, for INR 4,350 crore. The acquisition was part of Patanjali’s strategy to diversify its product portfolio and expand its market share in the FMCG segment.
The Renaming
The decision to rename Ruchi Soya as Patanjali Foods Company was taken to reflect the company’s association with Patanjali Ayurved. The board of directors of Ruchi Soya approved the name change in a meeting held on 3rd April 2023.
Speaking about the renaming, Acharya Balkrishna, Managing Director of Patanjali Ayurved, said, “The renaming of Ruchi Soya as Patanjali Foods Company is a significant milestone for us. It reflects our commitment to promoting the Ayurvedic way of life and providing healthy and natural food products to our consumers.”
Stock Surges
Following the announcement of the name change, the stock prices of Ruchi Soya surged by 10%. The surge in the stock prices was driven by investor confidence in the Patanjali brand and its growth prospects.
The renaming of Ruchi Soya is expected to provide a boost to the company’s business prospects. The company will now be able to leverage the brand image of Patanjali Ayurved to expand its market share in the FMCG segment.
Ruchi Soya’s Impact on the FMCG Industry
Ruchi Soya has been a major player in the FMCG industry in India for several years. The company has a strong presence in the edible oil market, with its leading brand, Nutrela, being a household name. Ruchi Soya also offers a range of soy-based food products and dairy products.
The acquisition of Ruchi Soya by Patanjali Ayurved was a strategic move to diversify the product portfolio of Patanjali Ayurved and expand its market share in the FMCG segment. The acquisition helped Patanjali Ayurved to strengthen its position in the edible oil market and gain entry into the soy-based food products and dairy products segment.
Patanjali Ayurved’s Brand Image
Patanjali Ayurved is known for its Ayurvedic products, which are made from natural and herbal ingredients. The company has built a strong brand image around the concept of natural and healthy living, which has resonated with Indian consumers.
The renaming of Ruchi Soya as Patanjali Foods Company is expected to help the company leverage the brand image of Patanjali Ayurved to expand its market share in the FMCG segment. The Patanjali brand is trusted by Indian consumers, and the company’s focus on natural and healthy products is in line with the changing consumer preferences.
Future Prospects
The renaming of Ruchi Soya as Patanjali Foods Company is a strategic move that is expected to provide a boost to the company’s business prospects. The company will now be able to leverage the brand image of Patanjali Ayurved to expand its market share in the FMCG segment.
The FMCG industry in India is expected to grow at a CAGR of 9% between 2021 and 2026. The growth is driven by factors such as rising income levels, changing consumer preferences, and the increasing penetration of organized retail. The renaming of Ruchi Soya as Patanjali Foods Company puts the company in a strong position to capitalize on the growth opportunities in the FMCG segment.
Also read: Rajkotupdates.news: Indian CEOs Expect Economic Growth
Conclusion
The renaming of Ruchi Soya as Patanjali Foods Company is a significant move that reflects the company’s commitment to promoting the Ayurvedic way of life and providing healthy and natural food products to its consumers. The decision to rename the company is expected to provide a boost to its business prospects and help it expand its market share in the FMCG segment.
FAQs – rajkotupdates.news : ruchi soya to be renamed patanjali foods company board approves stock surges
Why was Ruchi Soya renamed as Patanjali Foods Company?
Ans: Ruchi Soya was renamed as Patanjali Foods Company to reflect its association with Patanjali Ayurved.
Who owns Ruchi Soya?
Ans: Ruchi Soya is owned by Patanjali Ayurved, one of India’s largest FMCG companies.
What products does Ruchi Soya offer?
Ans: Ruchi Soya offers a range of products, including edible oils, soy-based food products, and dairy products.
What was the stock price surge after the renaming of Ruchi Soya?
Ans: The stock prices of Ruchi Soya surged by 10% following the announcement of the renaming.
What is the significance of the renaming of Ruchi Soya?
Ans: The renaming of Ruchi Soya reflects the company’s commitment to promoting the Ayurvedic way of life and providing healthy and natural food products to its consumers.
