There were media reports that Ruchi Soya was also named by Forward Markets Commission among the entities that were involved in guar gum price manipulation. The FMC, which last week had submitted a fact finding report to the Ministry of Consumer Affairs, named close to 4,500 entities. The report is significant as many traders had earlier said the price of guar gum had risen abnormally because of a shortage. However, Ruchi Soya in a clarification to the BSE said that it has not so far received any report from the FCA or from the Ministry. “Ruchi Soya wishes to clarify that it has not been trading in the guar gum commodity on the exchange. However, Ruchi Soya is one of the leading players in the physical trading and export of agri-commodities in India,” the company statement said. A notification in this regard will have a serious impact on the share price of Ruchi Soya. Marketmen will keep a close tab on this development.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.