Shree Renuka Sugars surged 6.9% to Rs 20.77 at 12:57 IST on BSE after the company scheduled a board meeting on 27 July 2017 to consider fund raising through various options.
The announcement was made after market hours yesterday, 24 July 2017.Meanwhile, the S&P BSE Sensex was off 45.82 points or 0.14% at 32,200.05. The S&P BSE Small-Cap index was off 5.03 points, or 0.03% to 16,030.73.
On the BSE, 45.82 lakh shares were traded on the counter so far as against the average daily volumes of 7.75 lakh shares in the past one quarter. The stock hit a high of Rs 21.64 in intraday trade so far, which is 52-week high for the counter. The stock had hit a low of Rs 19.90 so far during the day. The stock had hit a 52-week low of Rs 11.47 on 23 December 2016.
The stock had outperformed the market over the past one month till 24 July 2017, rising 54.7% compared with 3.56% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 29.19% as against Sensex's 8.73% rise. The scrip had also outperformed the market in past one year, rising 17.05% as against Sensex's 15.98% rise.
The small-cap company has equity capital of Rs 94.52 crore. Face value per share is Re 1.
Shree Renuka Sugars scheduled a board meeting on 27 July 2017 to consider fund raising, in one or more tranches, that may include further public offer, rights issue, Global Depository Receipts, preferential issue or any other method for issuance of equity shares and/or convertible / non-convertible preference shares and/or convertible / non-convertible debentures.
Shree Renuka Sugars reported a net loss of Rs 87.60 crore in Q4 March 2017, as compared with net profit of Rs 47.40 crore in Q4 March 2016. Net sales rose 15.36% to Rs 2097.20 crore in Q4 March 2017 over Q4 March 2016.
Shree Renuka Sugars is one of the leading sugar manufacturers in India.
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