Shree Renuka Sugars to expand Capacity

Shree Renuka SugarsIndia's largest sugar refiner Shree Renuka Sugars, has decided to expand its sugar refining capacity at its Athani unit in Karnataka to 2,000 ton per day. The facility presently has capacity of 1000 tonnes per day.

Apart from this, the company intends to setup up a sugar refining capacity of 1,000 tonnes per day at its Havalga unit, in Karnataka. Both plants are expected to be commissioned by December this year.

Angel Broking is looking bullish on Shree Renuka Sugars. In a latest recommendation call, the broking house has advised traders to buy the stock for target of Rs 152, but with stoploss of Rs 131.

The scrip of the company is currently trading at Rs 131, down 2%, ahead of heavy profit booking.