Stock of this sugar company has zoomed 40% in 2 days

Ugar Sugar proposed capacity expansion up to 845 KLPD under ethanol blending progammme

Shares of Ugar Sugar Works hit a fresh 52-week high of Rs 48.45 as they rallied 17 per cent on the BSE in Tuesday's intra-day trade on the back of heavy volumes in an otherwise weak market. In the past two days, the stock of the sweetener has zoomed 40 per cent after the company announced investment of Rs 200 crore distillery capacity expansions for ethanol production at Ugar Plant.

At 02:34 pm, the stock of Ugar Sugar was trading 7 per cent higher at Rs 44.20, as compared to a 0.28 per cent decline in the S&P BSE