Buy Shree Renuka Sugars, target price Rs 45: Yes Securities

Yes Securities has buy call on Shree Renuka Sugars with a target price of Rs 45. The current market price of Shree Renuka Sugars is Rs 35.85. Time period given by analyst is Intra Day when Shree Renuka Sugars Ltd. price can reach defined target.

Shree Renuka Sugars Ltd., incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 7641.28 Crore) operating in Sugar sector.

Shree Renuka Sugars Ltd. key Products/Revenue Segments include Ethanol & Allied Products, Sugar & Ethanol, Power, Sugar, By Products for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1448.80 Crore, up 73.14 % from last quarter Total Income of Rs 836.80 Crore and down -9.75 % from last year same quarter Total Income of Rs 1605.30 Crore. Company reported net profit after tax of Rs -97.80 Crore in latest quarter.

Investment Rationale
Most sugar stocks gained positive traction. The recent consolidation breakout in Renuka Sugar is likely to resume its prevailing uptrend.

Promoter/FII Holdings
Promoters held 62.48 per cent stake in the company as of 31-Dec-2021, while FIIs owned 2.06 per cent, DIIs 10.98 per cent.