Ethanol stock under ₹70 jumps 3% after promoter increases stake in the Co

During Wednesday’s trading session, the shares of a company engaged in manufacturing sugar, industrial alcohol, chlor alkali products, aspirin, sulphuric acid, and liquid & solid propellants surged nearly 3.2 percent on NSE, after the promoter increased acquired shares worth Rs. 1.35 lakhs in the company.

Price Movement

With a market cap of Rs. 489.2 crores, the shares of The Andhra Sugars Limited closed in the green at Rs. 68.85, up by 2.5 percent on NSE, as compared to its previous closing price of Rs. 67.17.

What’s the News

According to the latest filings with the NSE, Pendyala Achuta Ramayya, the Joint Managing Director and Member of Promoter group, has purchased an additional 2,000 equity shares worth Rs. 1.35 lakhs on NSE, increasing his stake from 0.755 percent to 0.757 percent.

Previous News

11th February: The company’s Board approved the setting up of a 6 TPD Sodium Sulphate Recovery Plant with an estimated investment of Rs. 12 crore, along with a 12 MW solar power project with a capital outlay of Rs. 42 crore to meet the captive power needs of its existing caustic soda plant. Also read: Metal stock jumps 4% after acquiring 51% stake in Surana Electrix for solar energy related products

Financial Performance

Andhra Sugars experienced significant growth in its revenue from operations, showing a year-on-year rise of around 13.3 percent from Rs. 451 crores in Q3 FY24 to Rs. 511 crores in Q3 FY25. In contrast, during the same period it turned from a net profit of Rs. 8.6 crores to a loss of Rs. 0.42 crores.

About the Company

Established in 1947, The Andhra Sugars Limited is engaged in the business of manufacturing sugar, industrial alcohol, & chlor alkali products, aspirin, sulphuric acid, liquid & solid propellants, and also generating power through renewable and non-renewable resources. The company is primarily engaged in three segments: Sugars, Chemicals & Fertilizers, and Pharma.

Written by Shivani Singh

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