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A total of 276,451 shares changed hands on the counter till time (IST).

Promoters held 51.14 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 16.42 per cent and 20.07 per cent, respectively.

“With global raw sugar prices surging to 11 year highs, the outlook for large integrated Sugar Mills in India with large capacities for Sugar and Ethanol is getting brighter this quarter as we approach the peak summer season,” S Ranganathan, Head of Research at LKP Securities said.

The stock traded at a P/E multiple of 68.15, while the price-to-book value ratio stood at 17.88.

On the technical charts, the RSI of the stock stood at 45.41.

Jefferies said FY24 guidance suggests a weak demand outlook and therefore cut its FY24-25 estimates by 3-6%. It sees potential stock fall on weak Q4 results as an attractive buying opportunity. Key risks include weaker revenue growth, lower margin, unfavourable currency and corporate action, the brokerage said.

The neckline of the pattern was placed around Rs 1,780. The stock closed at Rs 1,791 on 14 April 2023 – thus confirming the breakout. As long as the stock stays above Rs 1,700 levels bulls are likely to stay in control, suggest experts.

​So if I look at the economy as well as corporate earnings, to my mind, that one theme which can change a lot of things is crude.

Bharat Dynamics., incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 18070.61 Crore) operating in Defence sector.

A total of 260 shares changed hands on the counter till time (IST).