Shree Renuka Sugars is currently trading at Rs. 25.05, up by 1.10 points or 4.59% from its previous closing of Rs. 23.95 on the BSE.
The scrip opened at Rs. 23.50 and has touched a high and low of Rs. 25.20 and Rs. 22.80 respectively. So far 27,64,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 101.50 on 04-Jan-2011 and a 52 week low of Rs. 22.80 on 19-Dec-2011.
Last one week high and low of the scrip stood at Rs. 29.90 and Rs. 22.80 respectively. The current market cap of the company is Rs. 1,681.00 crore.
The promoters holding in the company stood at 38.06% while Institutions and Non-Institutions held 32.97% and 28.97% respectively.
Shree Renuka Sugars, India's largest sugar refiner is likely to sell 25% stake to retire debt in its wholly-owned company Renuka Brasil Holdings, through which it owns two sugar companies in Brazil. The firm is in discussion with several private equity companies and strategic investors for the same. Funds received from the stake sale will help Renuka Brasil reduce its $1-billion debt and expand capacity.
India's first sugar company with multinational operations Shree Renuka Sugars obtains about 50% of its revenue from Brazilian subsidiaries. The company is also learnt to have tied up with commodities and energy trader Olam International for marketing its sugar and ethanol output in Brazil. The combined cane crushing capacity of the Brazilian subsidiaries is 13.6 million tonne per annum.
Shree Renuka Sugars is one of the largest private sector sugar manufacturers in the country, promoted by first generation entrepreneurs, viz. Murkumbi family, with a combined crushing capacity of about 35,000 TCD (across seven units) in India and 59,520 TCD (across four units) in Brazil.
The company’s net profit after tax for the quarter ended June 30, 2011 zoomed by 430.34% at Rs 47.20 crore as compared to Rs 8.90 crore for the corresponding quarter last year. Its total income decreased by 2.17% at Rs 1202.80 crore for the quarter under review from Rs 1229.50 crore for the same quarter last year.
| Company Name | CMP |
|---|---|
| Shree Renuka Sugar | 28.14 |
| Bajaj Hindusthan Sug | 18.80 |
| Triveni Engg. & Inds | 393.00 |
| Balrampur Chini Mill | 486.00 |
| Dalmia Bharat Sugar | 394.05 |
| View more.. | |
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