In Wednesday’s session on the BSE, shares of Adani Wilmar (AWL) and Ruchi Soya Industries fell 5% as investors booked profits on these stocks, a day after the government freed imports of 2 million tonnes of soybean and sunflower oil from customs tax and Agri cess.
The effective tariff on crude palm oil, crude soybean, and sunflower was 5.50 percent until Tuesday when it was reduced to nearly nothing for the two oils up to a certain level.
Individually, AWL was trading at Rs 664.95, while Ruchi Soya Industries was trading at Rs 1,045.45 on the BSE, both in the 5% lower circuit band.
Both of these equities, however, have enjoyed a tremendous run-up in the last three months, with Adani Wilmar up 82% and Ruchi Soya up 34%, respectively, compared to a 3% decrease in the benchmark index.
