India's Ruchi Soya jumps after report Patanjali Ayurved makes highest bid

Sakuma Exports

07/05/2018 06:04

** Shares of Ruchi Soya Industries Ltd  RCSY.NS  rise as
much as 14.93 pct, in their biggest intraday pct gain since
March 16
    ** Patanjali Ayurved is said to have made the highest bid
for the debt-ridden edible oil and soya foods maker, Times of
India reported, citing multiple sources https://bit.ly/2rpJaOF
    ** Patanjali has made a bid of 40 bln rupees ($596.26 mln) -
45 bln rupees - Times of India report
    ** Malaysia's Sime Darby Plantation  SIPL.KL  and India's
Sakuma Exports Ltd  SAKE.NS  have also submitted expression of
interest  urn:newsml:reuters.com:*:nL4N1QD4IV  urn:newsml:reuters.com:*:nL4N1QC2DK
    ** Ruchi Soya could not be reached for comment, while
Patanjali Ayurved did not immediately respond to Reuters queries
    ** Over 5.5 mln Ruchi Soya shares change hands, compared
with 30-day avg of about 2.7 mln 
    ** Stock had shed 28.15 pct this year as of Friday's close
after declining about 1.6 pct last year

($1 = 67.0850 Indian rupees)

 ((arnab.paul@thomsonreuters.com@reuters.net))