Shree Renuka Sugars Ltd informed the market today , may be after the market time that the company on the meeting thats going to be held on january 25th 2010 will decide on the matter relating to Bonus Issue .We will update the same info on jan 25th 2010 in this website.
As all the food product are raising and sugar too , there is a speculation that the Levy sugar percentage will be raised from 10 to 20 percent , this means that Sugar company should give government 20 percent of the sugar production at a lower cost which will eat up in the Profit .
Praj Industries which was my recommendation from almost 6 months finally saw sunshine this week , they have a formed a JVC Praj Jaragua Bioenergia S.A., will supply end-to-end solutions for sugarcane juice to ethanol production. Praj Industries will hold 54% in the JVC while Jaragua will hold the balance 46%. Jaragua is a leading Brazilian engineering major and the JVC will provide Praj an entry into the fastest growing ethanol market in the world.One can buy this stock even at this level.
P.S i Hold 75 shares of Praj
Sugar stocks on sky high after Farm minister told that in 10 days time they will decide on SOP for sugar industry and also make decision on production of ethanol directly.
Shree Renuka sugars investing heavily on Ethanol as plain sugar sale is not minting money like before .
1.They Completed the acquisition of the Ethanol plant of Dhanuka Petro-Chem a division of Dhanuka Cold Storage Pvt Ltd located at Khopoli, Maharashtra for a total consideration of appx. Rs 60 Million. The said unit is having an installed capacity for manufacture of 100 klpd of Ethanol and is strategically located near JNPT port. The Company has plans to increase the ethanol capacity of this unit from 100 klpd to 250 klpd, in the near future.
and also inorder to have the Ehtanol and biofuel business to fly high they
2. Thwy have set up a wholly owned subsidiary viz. Shree Renuka Biofuels Holdings FZE in Sharjah International Free Zone (SAIF Zone) for its overseas investments.
Bajaj Hindustan has announced its second quarter results. The company has reported net profit of Rs 3.66 crore in the second quarter versus Rs 64 crore in corresponding quarter of previous year.
>Oudh Sugar has announced its Q3FY07 result. The company has posted net loss of Rs 41 lakh versus profit of Rs 19.95 crore (YoY).
>KM Sugar has declared its fourth quarter results. The company’s Q4 net loss at Rs 1.67 crore versus profit of Rs 4.79 crore.
almost all the company in Sugar sector will post a Net loss other than the big players.