...AND THE DEVIL’S EYEBROW

► FMCG analysts feel that Ruchi Soya’s attempt to get rid of its dependence on its commodity business and become a branded FMCG company will not be easy.

► They feel that Ruchi Soya’s bull run at the stock market has more to do with the market itself being on a high.

► The parent company, Patanjali Ayurved, is shrouded with transparency and governance issues, and that could impact Ruchi Soya’s fate in the stock market.

► The founders’ source of funding their various businesses has been frequently questioned.