Shree Renuka Sugars Limited is a sugar sector company. The total valuation (market value) of the company is Rs.12,515 crore. The price of one share of the company is Rs.58.95 in BSE market today and Rs.59.00 in NSE market today. The company was established in the year 1995.
There has been a tremendous rise in sugar stocks for some time now. Shares of Shree Renuka Sugars Limited, one of India’s largest sugar companies, have given multibagger 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. An amount of Rs. 5 lakh invested in this multibagger stock a year ago would have become Rs 27 lakh today.
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. Government also releases purchase price for ethanol to divert sugarcane to ethanol production.
Shares will go up to Rs.75
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%.
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 box.
