Shree Renuka Sugars deal lifts other Indian sugar stocks

Triveni Engineering and Industries

25/09/2023 07:56

(Updates with milestones, other sugar stocks moves)
    **  Shares of Shree Renuka Sugars  SRES.NS  rise as much as 5.3% to 57.25
rupees, hitting their highest since Jan 5; other sugar cos rise too    
    ** The agri-business and bio-energy co says it will buy Anamika Sugar Mills,
based in Uttar Pradesh  urn:newsml:reuters.com:*:nBSEz76K7 
    ** Adds it will infuse 1.1 bln rupees ($13.23 mln) in Anamika via
subscription to equity shares
    ** Deal props up other sugar stocks such as Dalmia Bharat Sugar and
Industries  DLMI.NS  which advances about 6.5%;  Triveni Industries  TREI.NS 
and Dhampur Sugar Mills  DAMS.NS  rise as much as 5.9% and 8.1% respectively 
    ** As of YTD, stock has fallen ~3.2%

($1 = 83.1360 Indian rupees)

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))