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09-Aug2018

Shree Renuka Sugars surges on the BSE

Shree Renuka Sugars is currently trading at Rs. 12.78, up by 0.26 points or 2.08% from its previous closing of Rs. 12.52 on the BSE.

The scrip opened at Rs. 12.56 and has touched a high and low of Rs. 12.90 and Rs. 12.50 respectively. So far 129824 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 18.88 on 28-Nov-2017 and a 52 week low of Rs. 9.69 on 20-Jul-2018.

Last one week high and low of the scrip stood at Rs. 13.44 and Rs. 12.35 respectively. The current market cap of the company is Rs. 2434.36 crore.

The promoters holding in the company stood at 58.97%, while Institutions and Non-Institutions held 28.49% and 12.55% respectively.

Shree Renuka Sugars has received an approval to acquire further shares in Gokak Sugars, one of the subsidiary company of the company. The Board of Directors of the company at its meeting held on August 08, 2018, approved the same.

The Board also approved issuance of Redeemable Preference Shares to LIC of India in lieu of existing Non-Convertible Debentures to the tune of Rs 125 crore. It also approved addition in capacity in respect of two of the distilleries of the company viz. Athani and Havalga, both located in Karnataka and an additional investment of up to Rs 225 crore.

Shree Renuka Sugars is a fully integrated player focused on manufacturing and marketing of sugar, power and ethanol.


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