/ Shree Renuka Sugars Allots Stocks Against Its Loan Stock Spikes Over 4% ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 9 March 2017

Stock of the sugar manufacturing company, Shree Renuka Sugars spiked over 4% in Thursday’s trade as the company announced that it has allotted stocks to Standard Chartered Bank.

The allotment was made at Rs 16.56 per share, higher than the current stock price. The allotment will be of 1.65 crore stocks to the bank against the conversion of a part of the company’s loans. 

The stock hit a high of Rs 15.95 on the BSE.

Shree Renuka Sugars Limited is an agri-business and bio-energy company. The company is engaged in the business of sugar manufacturing, sugar refining, sugar trading, ethanol and co-generation. Its segments include sugar, trading, co-generation, ethanol and engineering. 

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