Buy Shree Renuka Sugars For Target Rs 215

Buy Shree Renuka Sugars For Target Rs 215Stock market analysts are of the view that investors can buy Shree Renuka Sugars Ltd stock to achieve an intraday target of Rs 211.

According to them, investors can buy the stock above Rs 209 with a strict stop loss of Rs 207.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 215.

Shares of the company, on Monday (Feb 01), closed at Rs 207.95 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 247.20 and a low of Rs 72.20 on BSE.

The company registered a growth of 23.71% in its consolidated net profit for the quarter ended December 2009.

Shree Renuka's consolidated net profit for the quarter under review stood at Rs 2,609 million as against Rs 110 million during the corresponding period of 2008.

The company's net sales rose 3.57 times to Rs 14,287 million over the last year period.

Moreover, Shree Renuka Sugars, on Jan 25, declared that its company's directors sanctioned a bonus issue in the ratio of 1:1.

The company will declare the record date for bonus issue in the coming days.