Hi, Today’s our team is posting the stock analysis report like financial condition, technical chart and share price target in future. Shares of Shree Renuka Sugars Limited, one of India’s largest sugar companies, have given multibeggar returns to its shareholders in the last one year. In the last one year, the share price has increased from Rs 9.9 to Rs 53.60. It has given returns of about 440 percent in this period.
The brokerage house is bullish on Shree Renuka Sugars Ltd shares and is giving buy advice. According to IIFL Securities, this stock can go up to Rs 70-75 in the short term. That is, by placing bets now, investors can get a strong return of 45%.
Now you see due to this the demand for sugar stocks increased
In a recent report, CareEdge Research pointed out that a key factor for the sugar industry in India is the Ethanol Blended Petrol (EBP) program which aims to reduce the sugar surplus situation in India.
The EBP program supports diversion of sugarcane and surplus sugar to ethanol manufacturing which has now become a major focus point for the future of the sugar industry. The government also releases the purchase price for ethanol to divert sugarcane to ethanol production. ICICI Mutual Fund has also bought shares of Shree Renuka Sugars in March.
So, I hope this article will clear your doubts about Renuka sugar share and if you have any other query about this stock than please post your query in comment.
