Edible oil relief: Shares of Adani Wilmar and Ruchi Soya Industries shed 5%

Shares of Adani Wilmar (AWL) and Ruchi Soya Industries shed 5 per cent on the BSE in Wednesday's trade as investors booked profit at these counters, a day after the government exempted customs duty and agri cess on importing 2 million tonnes of soybean and sunflower oil per year.

The effective duty on crude palm oil, crude soybean, and sunflower till now was 5.50 per cent, which will come down to almost zero after Tuesday’s reduction for the two oils up to a fixed quantity.

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Individually, AWL was locked in the 5 per cent lower circuit band at Rs 664.95, while Ruchi Soya Industries, too, was down 5 per cent to Rs 1,045.45 on the BSE.

However, both these stocks have had a strong run-up in the past three months with Adani Wilmar zooming 82 per cent, and Ruchi Soya rallying 34 per cent, as compared to 3 per cent decline in the benchmark index.