KCP Sugar Extends Gain On Rising Sugar Prices

A comprehensive gain in sugar prices at the mill level resulted in a bullish run in spot and futures prices on Wednesday. Mill prices went up to Rs. 30-40 a quintal on higher demand and on the spot market the S grade price was up at Rs. 20-25. Naka rates, too, increased. This has been a definite gain for the Multibagger scrip KCP sugar as well whose finished product contains 64 per cent Sugar.

Today, KCP Sugar share price surged almost 5 per cent at NSE today due to the rising sugar prices.

Freight rates rose by Rs. 5 per bag. Sources said as that sugar production in this year is expected to be lower than the previous season and there are fears on early closing of crushing. Sentiments have been positive with demand governing the market trend. Arrivals to the Vashi market were steady at 58-60 truckloads and local dispatches were at 59-60 loads.

At 1:58 PM, KCP Sugar share price was trading at Rs. 29.15, up by 4.48 per cent. So far, over 1.5 lakh shares have changed hands at the trading counter as compared to its twenty day trading average of 1.5 lakh shares. The stock had opened at Rs. 28.35 as against its previous close of Rs. 27.90. The stock went as low as 27.80 for the day.

KCP sugar has the PE ratio of 8.14. The face value of Rs. 1 share has the book value of Rs. 21.17. The company has no promoters holding pledged and has the market cap of Rs. 316.34 crores as on 28^th December 2016. The stock’s 52 week high is at Rs. 46 and was made on 7^th July 2016 while its lifetime high stands at Rs. 94 on 4^th April 2016. For more details on the KCP Sugar, visit KCP Sugar share price history page of Dynamic Levels website.