, , New Delhi
Updated Mon, 11 Apr 2022 1154 AM IST
Baba Ramdev-led Ruchi Soya’s share price has been rising ever since it became debt-free on Friday. Apart from this, Veranda Learning Solutions, which knocked on the stock market on Monday, had a great start, while the shares of Adani Power and Tata Power also saw a jump.
Huge jump in the shares of Ruchi Soya
First of all, let’s talk about Baba Ramdev’s company Ruchi Soya, then let us tell you that on Friday, this company was completely debt-free. The company’s chairman Acharya Balkrishna had declared the company debt-free after handing over a check of Rs 2,925 crore to State Bank of India (SBI) chairman Dinesh Khara. Along with becoming debt free, the shares of Ruchi Soya, who made a strong entry in the stock market, grew at a rocket pace. According to a report, there has been a strong increase in the shares of the company, in just two days, the price of its shares has climbed more than 25 percent. On Monday too, it saw a rise and till the time of writing the news, its share price had risen by six per cent to Rs 978.45.
was acquired in 2019
It is worth noting that the follow-on offer of Rs 43000 crore of Ruchi Soya led by yoga guru Baba Ramdev has proved successful. This company was established in 1986 and it is involved in manufacturing edible oil, soybean-palm oil and other products. The company was acquired by Baba Ramdev-led Patanjali Ayurved in 2019 for Rs 4,350 crore. After the arrival of its FPO, the company has become completely debt free. Apart from this, talking about the shares of other companies on Monday, the share of Adani Power was trading at Rs 230.30 with a jump of 4.23 per cent, while the share price of Tata Power was up 2.88 per cent at Rs 286.10.
Veranda shares listed at 14.6% premium
While on the one hand the shares of Ruchi Soya are making investors bat-on, on the other hand, coaching institute Veranda Learning Solutions made a strong debut in the stock market on Monday. Its shares were listed on the Bombay Stock Exchange (BSE) at Rs 157 with a premium of 14.6 per cent, though the stock was listed on the NSE at Rs 125 with a discount of 8.76 per cent. At the time of writing the news, with the listing, the stock had jumped more than 20 per cent to a high of Rs 165 on the BSE. It is worth noting that the issue price of Veranda’s BiPO, which opened on March 29 and closed on March 31, was Rs 137. This IPO, which came to raise Rs 200 crore, was subscribed 3.53 times.
Big Bull lost 900 crores
Meanwhile, according to a report, Dalal Street’s veteran investor Rakesh Jhunjhunwala has suffered a setback in early April. The net worth of Jhunjhunwala’s portfolio has declined by over 2.5 per cent in six trading sessions this month. According to stock analysis platform Trendline, the net worth of Jhunjhunwala’s portfolio declined to Rs 32,846 crore as of April 2022 as against Rs 33,754 crore till March. Thus, in just six trading sessions, he has incurred a loss of Rs 907 crore or about 2.50 per cent.
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