Hold Shree Renuka Sugars With Stop Loss Of Rs 66
Technical analyst Kunal Saraogi has maintained 'hold' rating on Shree Renuka Sugars Limited stock with a stop loss of Rs 66.
According to analyst, the investors can exit on rally to around Rs 80-82.
The stock of the company, on March 01, closed at Rs 164.70 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 108.15 and a low of Rs 53 on BSE.
Shree Renuka Sugars Ltd has declared with reference to the acquirement of 100% equity stake in VALE DO IVAI S/A ACUCAR E ALCOOL ("VDI"), Brazil, that the firm has been renamed as 'Renuka Vale Do Ivai S/A'. The company focuses on three biz sections including sugar, biofuels in addition to renewable energy.
Shree Renuka Sugars has cane crushing operations in the states of Karnataka and Maharashtra. The company also runs two leased plants situated in the same states.
Shree Renuka Sugars owns 3 integrated refineries in Karnataka each at Munoli and Havalgah and a port-based refinery plant in West Bengal.
A few of the company's arms comprise SRSL Ethanol Ltd, Shree Renuka Agri Ventures Ltd, Renuka Commodities DMCC, Gokak Sugars Ltd and KBK Chem Engineering Pvt Ltd.