Rasoya Proteins soars to 4.6% on growth incentives
It is planning to install new capacities and to do value additions in the existing solvent extraction and vegetable oil refinery business.
By ET Bureau | Updated:
Rasoya Proteins, a small-cap company engaged in the manufacture of soya-based products and edible oils, has been seeing good action amid the rising market in the past few days.
On Monday, the stock hit the 5% upper circuit intra-day before ending 4.6% up at Rs 102.3 on the BSE, recording. According to analysts tracking the company, Rasoya Proteins is looking to expand through organic and inorganic routes.
It is planning to install new capacities and to do value additions in the existing solvent extraction and vegetable oil refinery business. On the inorganic front, the company is also exploring the possibility to acquire additional units in India or abroad.
The acquisition will be partly funded from the money it raised through GDR recently. When contacted, a senior company official said that expansion is on cards but nothing has been finalised as yet.
Contributed by Vijay Gurav & Apurv Gupta
On Monday, the stock hit the 5% upper circuit intra-day before ending 4.6% up at Rs 102.3 on the BSE, recording. According to analysts tracking the company, Rasoya Proteins is looking to expand through organic and inorganic routes.
It is planning to install new capacities and to do value additions in the existing solvent extraction and vegetable oil refinery business. On the inorganic front, the company is also exploring the possibility to acquire additional units in India or abroad.
The acquisition will be partly funded from the money it raised through GDR recently. When contacted, a senior company official said that expansion is on cards but nothing has been finalised as yet.
Contributed by Vijay Gurav & Apurv Gupta
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