Ruchi Soya Industries clarifies regarding acquisition of Sical's palm oil business

With reference to the news item appearing in a leading web portal titled "Ruchi Soya group close to buying the Palm oil business of Sical Logistics", Ruchi Soya Industries Ltd has clarified that the Company has no intention to buy any of the businesses of SICAL Logistics Ltd.

However, the Company understand from one of the unlisted promoter group Companies that it has struck out a deal with SICAL Logistics Ltd (SICAL) for purchase of its entire shareholding in MAC Oil Palm Ltd, a wholly owned subsidiary of SICAL which is engaged in palm oil extraction business in the State of Andhra Pradesh.

The stock was trading at Rs.338.15, up by Rs.4.90 or 1.47%. The stock hit an intraday high of Rs.340 and low of Rs.332.50. The total traded quantity was 2590 compared to 2 week average of 65400.

Source : Equity Bulls

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