Renuka Sugars hits 52-week high on Wilmar buzz

The Share price of Shree Renuka Sugars (SRSL), the country’s largest sugar refiner, rose to a 52-week high on Wednesday, with rumours of global agri commodity trader Wilmar International raising its stake in the company. The sugar major is undergoing a mega restructuring plan.

SRSL’s share went up to Rs 22.50, its 52-week high on the National Stock Exchange, before falling 6.5 per cent to close at Rs 20.29.

Singapore-based Wilmar Sugar Holdings, a Wilmar International group company, was roped in by SRSL in 2014. It acquired 27.24 per cent promoter stake at around Rs 1,200 crore, which reduced the shareholding of