This Multibagger Sugar Stock Is Hitting 52-Week High Back To Back

Sugar stocks have been in a sweet spot. Other than the earnings, ethanol blending rule has also played a big part in fuelling the gains. Likewise one of the stock from the pocked, Mawana Sugars has hit a 52-week high price of Rs. 128.8 per share on the NSE. In the 1-year time, the gains have been to the tune of 263.49%. Also, in Wednesday, share of the company hit upper circuit of 20% due to rising volumes.

Last, the stock of Mawana Sugars traded at a price of Rs. 122, up 12% from the previous closing price.

Also, the company's continuing rally in stock price is on the back of good earnings with total revenue from operations coming in at Rs. 487.59 crore, which is an increase both sequentially as well as on a YoY basis. Furthermore, as against the loss of over Rs. 17crore, the company recorded profit after tax of Rs. 14.87 crore.

Mawana sugars is a small cap sugar company in business including Plantation of white sugar, refined sugar, Ethanol production and Co-generated power from bagasse.

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