This multibagger sugar stock surges 45% in 3 trading sessions; hits 52-week high three days in a row

Sugar stocks have been surging on back of capacity expansion, ethanol blending programmed and good q3 earnings. Stocks such as Balrampur chini, Dhampur Sugar, Dwarikesh sugar, Mawana Sugars and Uttam Sugars have significantly gained in the past one month.  

One share from this sector that has stood out is Ugar Sugar Works Ltd. Shares of Ugar Sugar Works have been touching new upper circuits on daily basis and has traded on fresh 52-week high values for three consecutive sessions now.  

At 1.50pm on Wednesday, shares of Ugar Sugar Works surged 9 per cent or by Rs 4 to trade at Rs 48.35 a share on the BSE.  

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This sugar stock touched 52-week high value of Rs 49.15 per share on the BSE on Wednesday, while the stock traded on new highs of Rs 48.45 and Rs 41.40 per share respectively on February 8 and 9.  

From trading at Rs 33.60 a share on the National Stock Exchange (NSE) on February 3, shares of Ugar Sugar Works have gained massive 45% to trade at Rs 49.15 per share in just five trading sessions on Wednesday.   

As on February 9, shares have gained 68% in 3 months, 67% in six months and whooping 207% in one year, showed technical details of the sugar stock.   

Earlier, ICICI Securities has recommended Dalmia Bharat Sugar and Avadh Sugar for an upside of up to 47% on base price of Rs 453 and Rs 660 respectively.  

The brokerage was also bullish on Balrampur Chini Mills and Dwarikesh Sugar and sees an upside of 25 per cent on these stocks on Monday's closing price of Rs 444.15 and Rs 101.40. At 1.55 pm, shares of Balrampur Chini were trading with Rs 4.65 gain or higher by 1.09% to Rs 431.95 on the BSE on Wednesday. Dwarikesh Sugar stock traded at Rs 97.40, down 2.36%, on Wednesday.