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Son ordered to cough up the sum due to alleged insider trading by Siddharth Shriram, who passed away in 2021
The stellar performance of sugar stocks began in 2021, and is likely to continue in the new year - 2023, indicates the technical charts.
With favourable mix of ethanol towards B-heavy/juice (feedstock) coupled with higher sugar realisations; operating margins are expected at 12.7%-13.7% in FY22-FY23 (slightly higher than FY21 levels).
Sugar stocks rallied up to 11 per cent on the BSE in Friday's intra-day trade on strong outlook and foreign institutional investors (FIIs) interest.
The stock surged 18% to Rs 50.20 on BSE after the company decided to sell its Titawi plant to Indian Potash.
Deal could fetch up to Rs 400 cr
