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Simbhaoli Sugars shines after government fixes ethanol price for OMCs

11 Dec 2014 Evaluate

Simbhaoli Sugars is currently trading at Rs. 15.85, up by 1.70 points or 12.01 % from its previous closing of Rs. 14.15 on the BSE.

The scrip opened at Rs. 15.50 and has touched a high and low of Rs. 16.45 and Rs. 15.50 respectively. So far 13213 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 26.10 on 30-Jun-2014 and a 52 week low of Rs. 11.12 on 18-Feb-2014.

Last one week high and low of the scrip stood at Rs. 14.55 and Rs. 12.90 respectively. The current market cap of the company is Rs. 45.87 crore.

The promoters holding in the company stood at 45.73 % while Institutions and Non-Institutions held 7.94 % and 46.33 % respectively.

Shares of sugar companies like Simbhaoli Sugars have rallied on the bourses after the government fixes a price of Rs 48.50-49.50 per litre for procurement of ethanol for blending with petrol. The rate fixed by the government is much higher than the price oil companies presently pay to buy the sugarcane extract.

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