Multibagger sugar stock hits back-to-back 52-week high; surges 37% in 2 days, nearly 300% in one year

Sugar stocks have been on roll for the past one month and have gained substantially in the last one year on back of good earnings in q3 and ethanol blending plan.

One such stock that has been showing unprecedented rally is Mawana Sugars. 

Shares of Mawana sugars surged 17% to trade on new 52-week high value of Rs 128.90 a share in Thursday's intraday trade on the BSE. Shares of this sugar stock has shot up 37% in the last two sessions. It was locked in 20% upper circuit to Rs 109.95 on Wednesday amid spurt in volume. The shares traded on 52-week low value of Rs 33.40 per share on the BSE on February 17 last year. 

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As of February17, 2022, this multibagger sugar counter has gained 46% in one month, gave a return of nearly 50% in six months and surged 273% in just one year, showed technical data of the share with Stock Edge, an app to analyse NSE, BSE data.  

At 9.55am, shares of Mawana sugars were trading with gains of Rs 14.55 or 13.29% to Rs 124.05 per share on the BSE.  

Mawana sugar stock has been rallying after the company reported total income of Rs 488.10 crores in the quarter ended December 31, 2021 against Rs. 336.438 crores during the period ended September 30, 2021. Besides, the company reported total income of Rs 345.290 crores during the period ended December 31, 2020. 

The company has posted net profit / (loss) of Rs. 15.185 crores for the period ended December 31, 2021 as against net profit / (loss) of Rs. -18.050 crores for the period ended September 30, 2021. 

Mawana sugars business includes Plantation of white sugar, refined sugar, Ethanol production and Co-generated power from bagasse.