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This Sugar Stock Has Logged 31.5% Gains In Last 5 Trading Sessions

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Sugar stocks are said to be in a sweet spot for quite some time and amid the recent sell-off too, Dwarikesh Sugar Industries has gained 29% from the price of Rs. 95.05 as on the close of March 4 to currently trade at Rs. 123.5 per share. In trade today (March 11, 2022), the stock of Dwarikesh Sugar logged gains over 4% to trade at day's high price of Rs. 125 per share on the NSE.

 
This Sugar Stock Has Logged  31.5% Gains In Last 5 Trading Sessions

On 9th March, 2022, as per the Bulk deal data, EAM Emerging Markets Small Cap Fund bought 1,602,000 shares in the company at Rs. 116.04 per share.

Further on the tremendous surge in the stock's price, the exchange has sought clarification from the company so as to ensure that investors have latest information about the company and to inform the market such that investors interest is protected. Reply from the company is awaited.

Dwarikesh Sugar is a small cap sugar firm based out of Uttar Pradesh. The company's product range includes Sugar,White Crystal Sugar,Ethanol,Captive Power,Molasses and Valuable Residue: Bagasse, the residue obtained from crushing cane in the mills, is used by the paper industry.

In the December ended quarter of Fy 22 the company posted an increase in income from operations to Rs. 601.35 crore.Also, the company's profitability though registered a loss sequentially, was significantly higher YoY at Rs. 28.88 crore.

Read more about: sugar stocks dwarikesh sugar
Story first published: Friday, March 11, 2022, 10:32 [IST]
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