Shares of Shakti Sugars Ltd rose 20% to the upper price range of Rs 28.80 per share, making them one of the top gainers on the BSE today. The shares also reached a fresh 52-week high of Rs 28.80 per share during trading. After the government announced an increase in the sugar export limit for the fiscal year 2022-2023, the company’s stock price increased dramatically today.
The company provided fantastic numbers in its quarterly and annual financial statements. In FY23, the firm declared a net profit of Rs 4.93 crore, a 108.2% increase from FY22’s net loss of Rs 60.73 crore, according to annual reports. The CAGR for the stock price over a year is 89%. All of this indicates good managerial performance, which is why today’s purchase was new.
Sakthi Sugars Limited is in the business of producing soy products, industrial alcohol, sugar, and electricity. The volume of the company’s shares on the BSE increased by more than 12.44 times today.
Despite the BSE Sensex only rising by 19.43% during the same period, the stock has risen by 88.85%. The industry PE multiple is 17.2, while the stock PE multiple is 2.15. This stock should remain on investors’ watchlists.