Latest Stock Market News

The stock hit a fresh 52-week high of Rs 161.90 on 9 January 2023. It witnessed some profit-taking on 10 January, but experts are of the view that the long-term trend is intact.

The Nifty Auto index was trading 0.7 per cent down at 12729.6.

A total of 2,433 shares changed hands on the counter till 11:27AM (IST)

The Nifty Auto index closed 0.28 per cent up at 12819.1.

A host of brokerage firms have buy recommendations on a number of counters. They see a strong potential for value unlocking in these companies, with a targeted upside of up to 58%.

"Shree Renuka Sugars may be a two-digit stock but that does not mean it is a small company. It is a big company. There has been a change in promoter and cyclicality has ended with government plan on ethanol. The second one is EIL. No refinery, no fertiliser plant in India has not been built without the help of EIL."

Revenue is expected to grow by 37.0% YoY to INR149.5bn, led by improved generation at the Mundra plant (+20.7% YoY to 3.4bn) and CERC’sfavourable order, higher power demand across its distribution circles, and executions in its solar EPC segment.

The Relative Strength Index of the stock stood at 43.01 on Wednesday.

The financial services index has disappointed only in 2013 and 2015 in the last ten years. The calendar year 2014 turned out to be the best one so far when the index zoomed over 57%. In the last seven years, the index has given double-digit returns in 2017, 2018, 2019 and 2021.

A total of 5,557 shares changed hands on the counter till 10:15AM (IST)