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Ruchi Soya jumped as a media report said that Patanjali Ayurved has made the highest bid. The stock rallied as much as 14.93 per cent, in its biggest intraday percentage gain since March 16.
Patanjali Ayurved is said to have made the highest bid for the debt-ridden edible oil and soya foods maker, the report said, citing multiple sources.
According to the report, Patanjali has made a bid of Rs 4,000-4,500 crore ($596.26 million). Malaysia's Sime Darby Plantation and India's Sakuma Exports Ltd have also submitted expression of interest.
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 changed hands, compared with 30-day average of about 2.7 million. The stock had shed 28.15 per cent this year as of Friday's close after declining about 1.6 per cent last year.
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