Ugar Sugar Works hits new 52-week high on getting environmental clearance for distillery capacity expansion
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Ugar Sugar Works is currently trading at its upper circuit limit of Rs. 41.40, up by 6.90 points or 20.00% from its previous closing of Rs. 34.50 on the BSE.
The scrip opened at Rs. 40.90 and has touched a high and low of Rs. 41.40 and Rs. 38.10 respectively. So far 567236 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 40.10 on 07-Feb-2022 and a 52 week low of Rs. 15.00 on 17-Feb-2021.
Last one week high and low of the scrip stood at Rs. 41.40 and Rs. 32.50 respectively. The current market cap of the company is Rs. 465.75 crore.
The promoters holding in the company stood at 45.42%, while Institutions and Non-Institutions held 0.03% and 54.55% respectively.
Ugar Sugar Works has received Environmental Clearance for expansion for 645 KLPD on sugarcane juice / syrup to Ethanol. Totaling capacity up to 845 KLPD under ethanol blending progammme. This project announced is in line with the policy of government for increase in blending of ethanol in fuel.
The proposed capacity expansion up to 200 KLPD (already intimated) Plus 645 KLPD (on sugarcane juice/ syrup) distillery will be set up at the company’s Ugar Plant at Ugar Khurd. The proposed distillery will utilize sugarcane juice /syrup during the crushing season and in the off season production form B & C Heavy molasses and grains for continuous manufacture of ethanol.
Ugar Sugar Works is the flagship company of the Shirgaokar Group of Companies. This organization is located in a township by the name- Ugar Khurd, Karnataka, close to the border of Karnataka & Maharashtra.
