Stocks in focus: Ruchi Soya, Bodal Chemicals

Shares of Ruchi Soya Industries tanked over 16 per cent in Thursday's trade as the company has informed the bourses that IDBI Bank has declared it as a wilful defaulter.

Following a weak open at Rs 18.20 against the previous close of Rs 18.80, the scrip touched an intraday high of Rs 18.35 and a low of Rs 15.75 on the BSE. In terms of equity volume, 22.88 lakh shares exchanged hands in the morning trade.

At 11.10 a.m., the stock was trading down by 14.1 per cent at Rs 16.15.

Earlier in September,

Ruchi Soya Industries had signed an MoU with Yoga Guru Baba Ramdev promoted Patanjali Ayurved for an exclusive sales and distribution arrangement for the entire range of Patanjali edible oils in large packs. Under the terms of the MoU, Ruchi Soya would use its own extensive distribution network to sell the complete range of Patanjali edible oils in large packs across all regions of India.

Bodal Chemicals

Shares of Bodal Chemicals dropped as much as 8.6 per cent on weak results.

The company posted a net profit of Rs 26.18 crore in the September quarter this fiscal against Rs 35.87 crore in the same period a year ago. Also, revenue from operations fell to Rs 263 crore from Rs 369 crore.

Following a weak open at Rs 164.30 against the previous close of Rs 171.05, the scrip touched an intraday high of Rs 164.80 and a low of Rs 156.40. In terms of equity volume, 1.02 lakh shares exchanged hands in the morning trade.

Bodal Chemicals is one of the leading manufacturers of dyes, dye intermediates and basic chemicals.