Shree Renuka Sugars inches up on acquiring 100% stake in Anamika Sugar Mills
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Shree Renuka Sugars is currently trading at Rs. 54.03, up by 0.16 points or 0.30% from its previous closing of Rs. 53.87 on the BSE.
The scrip opened at Rs. 54.00 and has touched a high and low of Rs. 55.05 and Rs. 53.21 respectively. So far 231872 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 68.70 on 11-Oct-2022 and a 52 week low of Rs. 39.50 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 55.10 and Rs. 52.85 respectively. The current market cap of the company is Rs. 11466.17 crore.
The promoters holding in the company stood at 62.48%, while Institutions and Non-Institutions held 13.03% and 24.48% respectively.
Shree Renuka Sugars has completed the acquisition of 100% of equity shares of Anamika Sugar Mills on October 06, 2023. Objective of acquisition is to establish presence in Uttar Pradesh, one of the largest sugar producing states, and to cater to the markets of North and East India.
Acquisition of Anamika would enable the Company to gain access to existing sugarcane catchment area with a significant reduction in lead time for setting up the plant in Uttar Pradesh and easy access to skilled/unskilled labour. The Company may expand / alter /modernize the plant based on its need and preference.
Shree Renuka Sugars is a fully integrated player focused on manufacturing and marketing of sugar, power and ethanol.
