Ruchi Soya locks in at upper circuit post venturing into nutraceuticals business
Continuing with the diversification of its product portfolio, Ruchi Soya Industries Limited has entered into the nutraceuticals & wellness products segment with the launch 100 per cent vegetarian, preservative-free nutraceutical products to be marketed under ‘Patanjali’ and ‘Nutrela’ brands.
The entry of the company into the nutraceutical segment demonstrates its vision to develop affordable nutrition supplements, which can reach the masses and contribute to Healthy India/Swasth Bharat, going forward. It will launch 10 products, viz. Vitamin B12, Iron complex, Vitamin D, Vitamin C & Zinc complex, Daily active, Daily Energy, Weight Gain & Omega and shall soon introduce additional products in the market within a year. All these products will be manufactured by Patanjali Ayurved Limited (PAL) at the state-of-the-art plant located at Patanjali Food & Herbal Park, Haridwar under a contract manufacturing arrangement.
The company is launching its nutraceutical range in the midst of the COVID-19 pandemic, as the demand is driven by changing lifestyles, rising health literacy amongst people as well as a great opportunity in the growing preventive healthcare & dietary supplements category.
On Thursday, the shares of the company locked at the upper circuit of 5 per cent with a price of Rs 1,137.50.
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