Shree Renuka Sugars jumps 4%

The stock jumped 4.24 per cent to Rs 227.65 to an all-time high, after the company acquired Vale Do Ivai SA (VDI), a Brazil-based sugar and ethanol firm. The acquisition includes two sugar and ethanol production facilities with a combined cane crushing capacity of 3.1 million tonnes per annum.

The enterprise value of VDI is $240 million. The company will acquire 100 per cent stake in VDI for $82 million and the balance is the assumed debt, which is to be paid over eight years.