Shree Renuka Sugars surges 24% in three days; trades nears 52-week high

Rating agency Ind-Ra has reaffirmed its rating on the long‐term bank facilities availed by Shree Renuka Sugars and non‐convertible debentures (NCD) issued by the company

Shares of Shree Renuka Sugars (SRSL) have moved 7 per cent higher to Rs 60.90 on the BSE in Thursday’s intra-day trade on the back of heavy volumes.

The stock of the sweetener was trading higher for the third straight day, having rallied 24 per cent during this period. It was close to its 52-week high level of Rs 63.25 touched on April 25, 2022. The average trading volumes on the counter more-than-doubled with a combined 69.04 million shares having changed hands on the counter on the NSE and BSE.

Shree Renuka Sugars is a major agricultural and