Shree Renuka Sugars

Balrampur Chini Mills, Dwarikesh Sugar Industries, Ugar Sugar Works, Rana Sugars, Dhampur Sugar Mills and Shree Renuka Sugar overcome their significant peaks, with volumes exceeding daily 3-month high

Rajshree Sugars, Ugar Sugar Works, Simbhaoli Sugars, Sakthi Sugars and Bajaj Hindustan have zoomed in the range of 10 per cent to 19 per cent in intra-day trades so far.

Among individual stocks, Shree Renuka Sugars, Ugar Sugar and EID Parry have zoomed up to 169 per cent so far in 2022. Charts indicate further upside for these select stocks.

ICRA expects operating margins for sugar firms to remain in the range of 13.0 - 13.5 per cen in FY23 (in line with FY22 levels) supported by elevated sugar realizations as well as ethanol realizations

Rating agency Ind-Ra has reaffirmed its rating on the long‐term bank facilities availed by Shree Renuka Sugars and non‐convertible debentures (NCD) issued by the company

The 20% ethanol blending target has seen sugar sector majors betting on expanding the ethanol capacity; the sector could see an investment of about Rs 10,000 crore in the years ahead

Shree Renuka, Dwarikesh, Triveni Engineering, Uttam Sugar, Dhampur Sugar and Dalmia Bharat Sugar are down in the range of 2 per cent to 7 per cent on the BSE.

After the massive slaughtering post April 2022, sugar stocks consolidated in June and are now witnessing a pullback rally.

ICICI Securities believe domestic as well as global sugar prices would remain firm at least for next one year

Balarmpur Chini, Triveni Engineering, Shree Renuka, Dhampur Sugar, Dalmia Sugar and Avadh Sugar gained in the range of 4 per cent to 8 per cent in Tuesday's intraday trade

Any further development regards to the increase in sugar price can push the stocks higher in a short span of time

Shree Renuka Sugars, with an m-cap of Rs 8,791 crore at 01:50 pm, surpassed Balrampur Chini Mills and EID Parry (India)

Export subsidy announcement a positive but high valuation could restrict gains

According to Crisil, sugar offtake in the current sugar season is expected to remain more or less at last season levels despite the Covid-19 pandemic

On standalone basis, there was net loss of Rs 36 crore in September quarter this year, compared to Rs 275.10 crore a year ago.

Clarifying its decision to the media, it said its two subsidiaries- Renuka do Brasil and Renuka Vale do Ivai- keep optimising their manpower in the normal course of business

In past one month, the stock zoomed 74% against 4% rise in Sensex till Monday, July 24

Brazilian creditors to take 70% haircut, 30% to come from the sale proceed of larger unit of the two

The stock was up 5.6% at Rs 16.90 on the BSE, as compared to 0.14% decline in the S&P BSE Sensex at 10:41 am.

Signs share sale agreement; expected to garner Rs 55 crore