Ruchi Soya Industries, India's leading food & agro based FMCG player, witnessed a sharp rise in share price on Friday on reports that the government has hiked import duty on both crude and refined edible oil by 5%.

Hike in duty is likely to help local refiners like Ruchi Soya Industries.

Shares of the company are trading at Rs 37, up Rs 1.6, or 4.52%  at the Bombay Stock Exchange (BSE) on Friday at 1:51 p.m. The scrip has touched an intra-day high of Rs 38.40 and low of Rs 36.90. The total volume of shares traded at the BSE is 190,481.