Multibagger Sugar Stock Hit 52-Week High, Set To Double Manufacturing Capacity

Leading sugar company Shree Renuka Sugars (SRSL) hit a 52-week high today, and closed at Rs. 62.60 a piece, up by around 3% in intra day trade. The company recently disclosed that the management has planned to expand the ethanol manufacturing capacity from 720 kilo litres per day (KLPD) to 1,400 KLPD. Atul Chaturvedi, Executive Chairman, SRSL mentioned, "We are already in the process of expanding our capacity to 1,400 KLPD and this will be in place by the last quarter of the current calendar year. The thumb rule is that this will see an additional investment of around Rs. 700 crore in the segment."

Shree Renuka Sugars - stock performance

In the last 5 days, Shree Renuka Sugars' share price gained by 7.10%. in the last 1 month, its share price has surged by 21.20%, and in the past 6 months it has gained 25.83%. In the last 1 year its share price has zoomed by 107.63% a piece. In the last 5 years its share price augmented significantly by 321.55%. It is a mid-cap stock with a market capitalization of Rs. 13,367 crore.

The 52-week high level of this stock is Rs. 64.10, and the 52-week low level of this stock is Rs. 24.40.

Market capitalization	Current market price	6 Months Upside	1 Year Upside
Rs. 13,367 crore	Rs. 62.60	25.83%	107.63%

According to data available with NSE, in Q1 FY23, the company's total income stood at Rs. 1,94,010 lakh, as against Rs. 2,00,360 lakh in the previous quarter.

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