Latest News | Ruchi Soya Shares Rally Nearly 16 Pc After Four-day Decline

New Delhi, Mar 29 (PTI) Shares of Ruchi Soya Industries on Tuesday rallied nearly 16 per cent, halting its four-day decline amid value buying.

The stock jumped 15.94 per cent to settle at Rs 944.95 apiece on the BSE. During the day, it surged 19.99 per cent to Rs 978.05.

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On the NSE, it zoomed 15.19 per cent to settle at Rs 938.

In the past four days, the stock had declined 10.73 per cent.

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The rally also came a day after the company's Rs 4,300 crore Follow-on Public Offer (FPO) ended on Monday.

Capital market regulator Sebi on Monday asked bankers of Ruchi Soya to give an option to investors in its FPO to withdraw their bids while also cautioning them about "circulation of unsolicited SMS" regarding the share sale.

Ruchi Soya's FPO was subscribed 3.60 times on the final day.

On Tuesday, BSE issued a clarification regarding the bids related to the FPO.

"The exchange displays cumulative bids of both exchanges every 3 minutes. Ruchi Soya FPO extended for two days for only withdrawal of bids as per Sebi's directive," it said in a statement.

The exchange also said that since this was sudden change of process and system had to consider these changes, for few updates in cumulative bids details section only the BSE bids data was shown instead of cumulative data of both the exchanges.

"The same was restored to previous day data," BSE said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)