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Insight
Groupie
Joined: 11/Jul/2009
Location: United States
Online Status: Offline
Posts: 45
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   Posted: 28/Dec/2009 at 12:12pm |
Originally posted by TCSer
Insight have you studied Sir Shadilal enterprises a UP sugar stock available atonly 2 PE?
If not pl do n give your comments
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I have not looked into the above company.
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saravanans
Newbie
Joined: 30/Dec/2009
Location: India
Online Status: Offline
Posts: 3
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Posted: 30/Dec/2009 at 1:07pm |
SHREE RENUKA SUGARS LIMITED, together with its subsidiaries,
manufactures sugar, energy, ethanol, and biofertilizers in India. It
produces EC II grade refined sugar and sulphurless sugar used for
direct consumption in European and African countries, as well by
corporates for industrial usage. The company also produces power from
bagasse, a fibrous by-product resulting in the process of crushing of
sugar cane; and sells power to the state electricity boards. In
addition, it produces alcohol from the molasses, which can be used both
for potable purpose and an industrial chemical, as well as alcohol can
be purified to produce fuel grade ethanol that can be blended with
petrol. Further, SHREE RENUKA SUGARS sells residue product from
distillery operations blended with chemicals as bio-fertilizers. The
company was founded in 1995 and is based in Mumbai, India ================= yoostarDavid Shepherd
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EMANI
Senior Member
Joined: 01/Jan/2010
Location: India
Online Status: Offline
Posts: 241
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Posted: 05/Feb/2010 at 2:17pm |
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Shree Renuka has recently announced bonus.Its year high is 247 and low of 77.From the top its almost 30%down.And ex-bonus rate will be close to the year low ie90/- .I think it makes sense to buy at current levels. Please advise.....
Edited by EMANI - 05/Feb/2010 at 2:41pm
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esn
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EMANI
Senior Member
Joined: 01/Jan/2010
Location: India
Online Status: Offline
Posts: 241
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Posted: 05/Feb/2010 at 2:23pm |
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Renuka appears to have strong support at around 180 levels.
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esn
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EMANI
Senior Member
Joined: 01/Jan/2010
Location: India
Online Status: Offline
Posts: 241
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Posted: 05/Feb/2010 at 9:51pm |
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India, the world’s largest consumer, will have to import at least 7
million tons this season, Macquarie Group Ltd. estimates. The
Philippines will import 60,000 tons by the end of April as it seeks
overseas supplies for the first time in eight years after drought cut
domestic crops. Countries including Egypt, Pakistan and Indonesia also
plan to make purchases.
Excess rains in Brazil and a weak monsoon in India hurt sugar-cane
output from the world’s two biggest growers. Global demand for sugar
will outpace supply by 13.5 million tons in the 2009-10 season,
according to Czarnikow Group Ltd.( source...Bloomberg)
Edited by EMANI - 05/Feb/2010 at 9:52pm
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esn
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Insight
Groupie
Joined: 11/Jul/2009
Location: United States
Online Status: Offline
Posts: 45
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Posted: 26/Feb/2010 at 10:01pm |
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I completely agree with you. It has been a month since Shree Renuka Sugar approved the bonus issue and the stock price should have been down much more to adjust for bonus.
Stock bonus adjusted price even for someone who bought at the peak of 247, will be 123.5.
Please let me know if anybody has heard anything about the record date.
Edited by Insight - 26/Feb/2010 at 10:05pm
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Vivek Sukhani
Senior Member
Joined: 23/Jul/2006
Online Status: Offline
Posts: 6675
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Posted: 26/Feb/2010 at 11:35pm |
Originally posted by Insight
I completely agree with you. It has been a month since Shree Renuka Sugar approved the bonus issue and the stock price should have been down much more to adjust for bonus.
Stock bonus adjusted price even for someone who bought at the peak of 247, will be 123.5.
Please let me know if anybody has heard anything about the record date.
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Should have been down more????
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Jai Guru!!!
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Insight
Groupie
Joined: 11/Jul/2009
Location: United States
Online Status: Offline
Posts: 45
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Posted: 26/Feb/2010 at 12:53pm |
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I am thinking that the bonus share approval news came out on Jan. 25th and the stock price was around Rs. 226. If the bonus shares are going to be approved (which I think they will), stock price should have gone down to Rs. 113 next day.
If 113 is the floor than Rs 53 or so is the arbitrage profit that hasn't gone away for someone who bought it at Rs. 226, considering current market price of Rs 166.
It is obviously even more sweet for someone who buys it at today's level where bonus adjusted price is going to be Rs 83.5
What is it that I am missing?
Edited by Insight - 26/Feb/2010 at 1:04am
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