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NSE Announcements on Shree Renuka
Posted by :
MMB MessengerShree Renuka Sugars Limited has informed the Exchange that, the Company will be publishing Audited Financial Results for the year ended September 30, 2009, within a period of 3 months, i.e. on or before December 31, 2009, instead of publishing un-audited results for the last quarter ended September 30, 2009....
Govt may dilute states’ control over sugar prices
Prabha Jagannathan NEW DELHI
A DAY after the Centre came out with an ordinance amending the Essential Commodities Act, which replaced the sugarcane SMP with a “fair and remunerative price” from the current sugar season (October 2009-September 2010), process has been set in motion for the second part of the exercise. It involves an amendment of the Sugarcane Control Order, 1966, to dilute the right of the state governments to announce the State Advised Price (SAP) that is usually much higher than the Centre’s SMP for sugarcane. A notification in this regard is in the offing.
The Centre cannot take away the right of the states to announce SAP, as reinforced by the apex court in 2004 in a case involving Uttar Pradesh. So, the objective of the relevant amendments to the Sugarcane Control Order, 1966 is that in the event the sugarcane support price announced by state governments is higher than the fair and remunerative price, the burden falls on the states themselves.
In effect, it could mean that sugar millers will pay SAP in the five SAP states and the difference between the SAP and the fair and remunerative price will be reimbursed to them later. However, according to an industry official, this would not be feasible.
Meanwhile, Uttar Pradesh, the country’s second biggest sugarcane producer, raised the state-fixed minimum price paid to farmers for sugarcane by 18% to Rs 165 per quintal, compared to Rs 140 per quintal last year. The state government has also increased SAP for early maturing varieties of cane to Rs 170 from Rs 145, and prices for inferior grades to Rs 162.50 from Rs 137.50. The increase of Rs 25 is the highest annual increase by the state.
The higher minimum price will provide an additional Rs 2,100 crore to farmers in the state.
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ET NEWS
Posted by : abhaytiw
Sugar buyers fret as prices rise, but investors lovin’ it
Sugar Stocks Climb By Up To 30% In Just A Month Even As Sensex Stays Flat
Ram Sahgal & Vijay Gurav MUMBAI
BAJAJ Hindusthan, the nation’s biggest sugar producer led a rally in the sector’s stocks as investors lapped up the shares in anticipation of higher prices for the commodity due to lower supplies and a government rule that may free the companies from states’ clutches in terms of prices paid to cane producers.
Balrampur Chini Mills rose 5.27% to Rs 144.95, Dhampur Sugar gained 2.28% to Rs 112.15 and Bajaj Hindusthan advanced 4.93% to Rs 36.20 on the Bombay Stock Exchange on Monday.
Sugar prices are at multi-year highs and may rise as the sugar production in the current year 2009-10 is expected to remain flat around 15 million tonnes even as rising incomes increase the demand for the sweetener. Also, the government’s rule last week to fix “fair and remunerative price” eliminates the uncertainty of the past when different states fixed different prices with some state prices straining the finances of sugar companies. Now, any difference between the remunerative fixed price by the central government and a state recommended price has to be borne by the states, unlike in the past where sugar companies paid the farmers the states’ minimum support price. The sugar year runs from October to September.
“The move to bring in a fair and remunerative price is an extremely positive step as it removes the skew in pricing between different states,” said Vivek Saraogi, MD, Balrampur Chini. “With a uniform price across the country, efficeincy will be the sole parameter to differentiate between the boys and the men in the sugar industry.”
These stocks have risen between 21% and 30% in the past one month, outperforming the
BSE. Sensex has remained more or less flat during the period. Bajaj Hindusthan is the best outperformer among sugar stocks. It rose to a 52-week high of Rs 241.8 last Wednesday and gained about 30% during the month. Simbhaoli Sugars and Dhampur Sugar are the other two performers surging 23% and 21%, respectively. While Simbhaoli touched a high of Rs 76.9 on October 21, Dhampur climbed a peak at Rs 117 on Monday.
But some analysts caution that it may be an irrational exuberance to accumulate sugar stocks given the fact that the government has increased the levy sugar quota, i.e, a portion of sugar which the mills have to supply to the government-regulated public distribution shops at a fixed price. Also, the central government is yet to announce the fair price.
“The new minimum price to be fixed by the government would prove bullish for listed companies only if it is reasonably lower than the State Advised Price fixed by the states, including Uttar Pradesh,’’ said Ajay Parmar, head of research, institutional equities at Emkay Global Financial Services. “Most of the listed sugar stocks are from the UP belt. Therefore, the FRP would have to be substantially lower than the SAP to benefit companies such as, say, Balrampur Chini and Bajaj Hindusthan.”
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Ready to board the Sugary waves
Posted by :
pritig4uThe stock of Shree Renuka Sugars is all set to scale new heights,m due to all factors turning positive. The latest one being that the govt has done away with the SAP prices for cane sugar. Hence, it is a favour to all sugar companies. If a particular State govt announces higher price for sugarcane than the Central govt recommended price, then that State govt will have to pay that extra cost and not the sugar mills. Hence, it has been welcomed by all the sugar mills and it is bound to give bountiful returns. Earlier, due to higher price realisation for sugar/kg, which increased by about 50%, THIS CO. IS LIKELY TO POST A 400% JUMP IN ITS NET PROFITS for the Quarter ending Sept, 2009. Then see its stock price jump to Rs 290-300 level, just within 1 week of this announcement. Hence, accumulate this stock. Buy at every decline. Moneybhai...
good,I think u r right compare to return of renuka and shakti, but renuka can go upto 220 on monday,150 percant sure....
renuka can go upto 220 on monday once again. so buy renuka and get a lot of profit....
Heading
Posted by :
greatestmj
Not really. We saw a good profit booking in the stock!
It should either consolidate from tomorrow for a bit or go up again!...
wednesday renuka can touch 229 and bajaj hindustan cab go upto 245....
buy renuka
Posted by : Guesttuesday renuka can touch 222....
Sugar Stocks
Posted by :
123sb
Renuka is best know in this quarter and hence we can expect an increase in its stock price from now onwards. Heavy buying by Traders, DIIs, fund houses are seen in this stock and hence a target of 300 posted in rediff and in other stock recommending sites can easily be achieved.
Keeping fingers crossed !!!
Thanks,
123sb...
Sugar Stocks
Posted by : surenindya
Sugar stocks like Balrampur, Bannari and Shree Renuka are expected to post more than 100% increase in QE 9/09 PAT over 09/2008 earnings. Thus when the results for 09/2009 are known these shares will jump as their P/E will become very attractive. I think you should hold the abovenamed stocks till a few days after the quarterly results are out, till the rate keeps going up. Then you should book profits.
In case you have sugar stocks other than above 3, please research the same. I feel confident about these three only.
It appears your portfolio size at the moment is rather small and therefore you have converted to only one sector. If the portfolio is bigger go for good companies rather than sectors.
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NIFTY = 5300 & SENSEX = 18000.
Posted by : panasonicPANASONIC - WISHES YOU A VERY HAPPY DIWALI.... ...
buy ...buy....and only buy
Posted by : Guestsuger sector on rally. so buy renuka suger and get a lot of profit on monday. ...
400 in 6 month
Posted by : Guesttraders alert, Renuka will anounce there brazilean aqui suger comp on monday-tuesday. deal has compeleted. So buy renuka today. friday he get reach 220....
400 in 6 month
Posted by : anoopsinghbaisSee it crossing 220 in next two days.till 13th the election day ,it was artificially suppressed ,and revival was expected after elections and so it has happened....
