InvestorQ : Why has Shree Renuka Sugars rallied 300% in 3 months?
Dhwani Mehta made post

Why has Shree Renuka Sugars rallied 300% in 3 months?

Dilmini Mercia answered.
1 year ago

Shree Renuka may have been making losses for the last many quarters but for now it is the sugar and ethanol story that is really dominating the news headlines and Renuka Sugars is making the best of this trend. Interestingly, after rallying 300% in 3 months, Shree Reunka has emerged as the most valuable sugar company in India, overtaking Balrampur and EID Parry along the way in its journey to the top of the market cap sweepstakes.

Renuka Sugars is currently quoting at its highest market cap level since February 2012, when the debt crisis began to unfold. The trigger for the stock price of Renuka Sugars came after the company board approved capacity expansion of ethanol production from 720 Kilo Litre per Day (KLPD) to 1,400 KLPD. The idea of this aggression is to make the best of government front-ending ethanol blending targets of 20% by 7 years from 2030 to 2023.