Rajkotupdates.news : ruchi soya to be renamed patanjali foods company board approves stock surges: RajkotUpdates.news – In a major development in the Indian FMCG sector, Ruchi Soya, a subsidiary of Patanjali Ayurved, is set to be renamed as Patanjali Foods Company. The board of Ruchi Soya, in a meeting held on 5th May 2023, approved the proposal to rename the company.
Rajkotupdates.news : ruchi soya to be renamed patanjali foods company board approves stock surges
Patanjali Ayurved, which acquired Ruchi Soya in 2019, has steadily expanded its presence in the Indian FMCG market, dominated by multinational giants such as Hindustan Unilever and Procter & Gamble. The renaming of Ruchi Soya to Patanjali Foods Company aligns with its strategy to strengthen its brand presence and leverage the goodwill associated with the Patanjali brand.
The move is also expected to boost the company’s stock prices significantly. Following the announcement, the stock of Ruchi Soya surged by over 5% on the Bombay Stock Exchange (BSE). The renaming is seen as a positive step toward the company’s growth and expansion plans.
Patanjali Foods Company will continue to operate as a separate entity under the Patanjali Ayurved umbrella, focusing on expanding its product portfolio and increasing its market share in the Indian FMCG sector. The company is known for its range of edible oils, soybean products, and other food items.
The decision to rename Ruchi Soya is part of Patanjali Ayurved’s overall strategy to consolidate its brand and streamline its operations. The company has been expanding recently, focusing on diversifying its product range and strengthening its distribution network.
The FMCG sector in India has been growing rapidly in recent years, with increasing demand for consumer goods and a rising middle class. Patanjali Ayurved has emerged as a major player in the sector, with a range of products catering to consumers’ health and wellness needs.
In conclusion, renaming Ruchi Soya as Patanjali Foods Company is a significant move in the Indian FMCG sector. The rebranding is expected to strengthen the company’s brand presence and boost its stock prices. With its focus on expanding its product range and increasing its market share, Patanjali Foods Company is poised for strong growth in the coming years.