Shree Renuka Sugars rose 1.56% to Rs 9.10 after the company said that it will commence operations at its port-based refinery at Haldia (West Bengal) in the first half of October 2020.
"The Haldia refinery can refine up to 2000 tons of raw sugar per day," the sugar maker said in a filing issued after market hours yesterday.
Shree Renuka Sugars is one of the largest sugar producers in the world, the leading manufacturer of sugar in India, and one of the largest sugar refiners in the world.
The company reported a net loss of Rs 34.90 crore in Q1 FY21 compared with net loss of Rs 364.20 crore in Q1 FY20. Net sales during the quarter jumped 28.1% to Rs 1343.80 crore.
In the past six months, the stock has surged 82% while the benchmark S&P BSE Sensex gained 36.60% during the same period.
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