Shree Renuka Sugars Surges 6% On Turning Profitable In Q2

Shree Renuka Sugars shares surged as much as 5.94 per cent to hit intraday high of Rs 14.25 after the sugar manufacturer post market hours on Tuesday reported that it turned profitable in the second quarter of current financial year.

Mumbai-based Shree Renuka Sugars reported net profit of Rs 2.5 crore on sales of Rs 2,046.1 crore in September quarter compared with loss of Rs 151.2 crore on sales of Rs 986.4 crore during the same quarter last year.

Following this development, shares of Shree Renuka Sugars came in high demand as 8.71 lakh shares changed hands on the BSE compared with an average of 8 lakh shares traded daily in the past two weeks.

As of 12:39 p.m., shares of Shree Renuka Sugars traded 2.23 per cent higher at Rs 19.35, outperforming the Nifty which was up 1 per cent.