Rajkotupdates.news : ruchi soya to be renamed patanjali foods company board approves stock surges

Rajkotupdates.news :

ruchi soya to be

renamed patanjali

foods company

board approves

stock surges

Ruchi Soya, one of India's leading edible oil manufacturers, is set to be renamed as Patanjali Foods after approval from the company's board. The move comes as part of the ongoing integration process between Patanjali Ayurved and Ruchi Soya, which was acquired by Patanjali Ayurved in 2019.

The renaming of Ruchi Soya to Patanjali Foods is expected to further strengthen and consolidate the presence of the Patanjali brand in the Indian FMCG market. The move also aligns with the company's vision of creating a strong and recognizable brand identity that resonates with its core values of health, wellness, and sustainability.

This decision has been welcomed by investors and the market alike, with the stock price of Ruchi Soya surging by over 10% following the announcement. The move is seen as a positive development for the company, which has been struggling to recover from a debt burden of over INR 12,000 crore.

The integration of Ruchi Soya with Patanjali Ayurved has been a strategic move by the latter to expand its product portfolio and tap into new markets. With Ruchi Soya's extensive distribution network and established market presence, Patanjali Ayurved has been able to leverage its brand strength and innovation to drive growth and capture market share.

The renaming of Ruchi Soya as Patanjali Foods is also expected to provide a boost to the company's branding and marketing efforts. The Patanjali brand has emerged as a strong player in the Indian FMCG market, offering a range of products that cater to the growing demand for natural and organic products.

The company's focus on health and wellness has resonated with consumers, particularly in the wake of the COVID-19 pandemic, which has heightened awareness about the importance of maintaining good health and immunity.

The move also aligns with the Indian government's push towards promoting indigenous products and brands under its 'Atmanirbhar Bharat' or self-reliant India campaign. The Patanjali brand, which has its roots in traditional Indian Ayurvedic medicine, has been positioned as a symbol of Indian heritage and cultural identity.

In addition to the renaming of Ruchi Soya, Patanjali has also launched several new products in recent months, including herbal immunity boosters, hand sanitizers, and a range of ready-to-eat snacks. The company has also expanded its presence in the e-commerce space, partnering with leading online retailers to reach a wider consumer base.

Overall, the renaming of Ruchi Soya to Patanjali Foods is a strategic move that is expected to provide a boost to the company's branding and marketing efforts, while also strengthening its position in the Indian FMCG market. With the ongoing integration process between Patanjali Ayurved and Ruchi Soya, the company is well-positioned to tap into new markets and drive growth in the years ahead.

As per report, Ruchi Soya Industries, which is owned by Baba Ramdev's Patanjali Ayurved, plans to change its name to Patanjali Foods as part of the company's branding and marketing efforts. This move is in line with the Indian government's push towards promoting indigenous products and brands. Additionally, Patanjali Ayurved has announced that it will be transferring all its food business to Ruchi Soya, and Patanjali Ayurved will operate in non-food, traditional medicine, and wellness categories. With these strategic moves, the company is expected to strengthen its position in the Indian FMCG market and drive growth in the years ahead.