Mawana Sugars rose 2.38% to Rs 83.90 at 10:53 IST on BSE, with the stock extending Monday's rally triggered by the company reporting strong quarterly earnings.
Meanwhile, the S&P BSE Sensex was up 91.65 points or 0.29% at 31,187.35. The S&P BSE Small-Cap index rose 116.88 points or 0.76% at 15,570.94.
On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 38,000 shares in the past two weeks. The stock had hit a high of Rs 84.90 and a low of Rs 83 so far during the day. The stock had hit a 52-week high of Rs 99 on 23 May 2017 and hit a 52-week low of Rs 34.65 on 17 November 2016.
The stock had underperformed the market over the past one month till 12 June 2017, sliding 9.2% compared with the Sensex's 3.01% rise. The stock had also underperformed the market over the past one quarter, declining 8.33% as against the Sensex's 7.43% rise. The scrip had, however, outperformed the market over the past one year, gaining 39.97% as against the Sensex's 16.74% rise.
Shares of Mawana Sugars have risen 8.67% in two trading sessions from its closing of Rs 77.20 on 9 June 2017 after the company reported strong quarterly results after market hours on 9 June 2017. The stock had risen 6.15% to settle at Rs 81.95 yesterday, 12 June 2017.
Mawana Sugars' net profit rose 42.7% to Rs 92.63 crore on 8.5% decrease in net sales to Rs 422.24 crore in the quarter ended March 2017 over the quarter ended March 2016.
Mawana Sugars in engaged in the manufacturing of some of the finest sugars in the country.
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