The Board of Directors of Shree Renuka Sugars Limited in their meeting held on 9th February 2021, approved capacity expansion of ethanol production from 720 Kilo Litre Per Day (KLPD) to 970 KLPD. Considering the huge untapped demand for ethanol due to the policies of Government of India on ethanol blending, the Board of Directors of the Company, at its meeting held today i.e. 25th June 2021, approved further capacity expansion for ethanol production from 970 KLPD to 1400 KLPD.
The Government of India has mandated 20% ethanol blending in fuel by 2025 against a current blending of 7.79%. Considering this, the Company sees a huge untapped demand for ethanol for the ethanol blending program of the Government of India which can be of benefit to the Company in the future.
Shares of SHREE RENUKA SUGARS LTD. was last trading in BSE at Rs.34.05 as compared to the previous close of Rs. 32.45. The total number of shares traded during the day was 6422722 in over 2816 trades.
The stock hit an intraday high of Rs. 34.05 and intraday low of 33.6. The net turnover during the day was Rs. 218502336.
The above news was originally posted on www.equitybulls.com
