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Investing.com – Oil producers that can be eaten by Ruchi Soya (NS: RCSY) have been on the news on Monday after a series of developments and announcements during the weekend and when the market closed on Friday.

The FMCG Major Board, in a meeting held on April 10, has agreed to change the company’s name from Ruchi Soya to Patanjali Foods Limited or another name provided by the company’s registrant, stating the company in submitting an exchange on Monday.Baba Ramdev’s Patanjali Ayurved acquired Ruchi Soya in 2019 through the bankruptcy process for Rs 4,350 Crore.

In addition, at the council meeting on Sunday, the Oil Manufacturers Board provides its principal approval to increase synergies with the Patanjali Ayurved Food Portfolio is limited in any way with the base of the arm, declaring many sources.It also provides officials, authority to negotiate, complete, implement and provide the terms and conditions of the proposed transaction to increase synergies with Patanjali Ayurved, quoting the ET report.Speculation of Patanjali food businesses to join Ruchi Soya also appeared.

In addition, on Friday, the company announced that it had paid the entire debt of 2,925 crore to the bank, using a portion of the FPO recently concluded at 4,300 crore. Ruchi Soya has now become a debt-free company.The company’s shares jumped 8% in this development in sessions, even as the equity index of Nifty 50 and Sensex titles traded negatively.