Shares of sugar companies have been buzzing for the last few days. Among these, shares of Shree Renuka Sugars have been doing exceptionally well.
Shares of the company are continuing to rally over the last two days. The stock was trading near its upper circuit of Rs 49.50 on Thursday. The stock has given good returns to the investors in the last week. It has witnessed a growth of 65 per cent in the last three months.
Shree Renuka Sugar was trading at Rs 30.05 apiece on December 31, 2021, and today touched the upper circuit at 49.50 apiece.
According to experts from the stock market, the stock is rallying over the news that Adani Group is taking over the sugar company. However, the experts stated that it is mere speculation and there is no confirmation yet.
Sugar stocks are showing strength following the government’s ethanol blending programme and good exports from India.
