Ugar Sugar Works recovers on bargain hunting

Ugar Sugar Works was up 3.91% to Rs 19.95 at 15:22 IST on BSE, with the stock recovering on bargain hunting after recent sharp slide.

Meanwhile, the S&P BSE Sensex was down 32.94 points or 0.1% at 33,811.92. The S&P BSE Small-Cap index fell 0.48%, underperforming the Sensex.

On the BSE, 88,000 shares were traded on the counter so far as against average daily volumes of 64,673 shares in the past one quarter. The stock had hit a high of Rs 20.10 and a low of Rs 19.05 so far during the day. The stock had hit a 52-week high of Rs 37.70 on 6 March 2017 and a 52-week low of Rs 19 on 19 February 2018.

The stock had underperformed the market over the past one month till 21 February 2018, sliding 18.82% compared with the Sensex's 4.69% fall. The stock had also underperformed the market over the past one quarter, declining 21.47% as against the Sensex's 1.09% rise. The scrip had also underperformed the market over the past one year, sliding 44.91% as against the Sensex's 17.67% rise.

The small-cap company has equity capital of Rs 11.25 crore. Face value per share is Rs 1.

Shares of Ugar Sugar Works had slumped 14.85% in the previous six trading sessions to settle at Rs 19.20 yesterday, 21 February 2018, from its closing of Rs 22.55 on 12 February 2018.

Ugar Sugar Works' net profit fell 90.2% to Rs 2.73 crore on 26.1% decline in net sales to Rs 125.46 crore in Q3 December 2017 over Q3 December 2016.

Ugar Sugar Works is engaged in manufacture and sale of sugar, industrial and potable alcohol, and generation and distribution of electricity.

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