Shree Renuka Sugars Experiences Notable Turnaround Amidst Recent Volatility in Midcap Sugar Sector

Jan 29 2025 09:45 AM IST
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Shree Renuka Sugars experienced a notable rebound on January 29, 2025, after five days of decline, outperforming its sector. The stock reached an intraday high, although it remains below key moving averages. In contrast, the broader market showed modest gains, reflecting the stock's recent volatility.
Shree Renuka Sugars has shown notable activity today, gaining 5.67% on January 29, 2025. This performance marks a significant turnaround for the stock, which had experienced five consecutive days of decline prior to today. The stock outperformed its sector by 2.14%, indicating a positive shift in momentum.

During the trading session, Shree Renuka Sugars reached an intraday high of Rs 36.95, reflecting a 3.24% increase at that peak. However, it is important to note that the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a longer-term trend that may still be under pressure.

In terms of broader market performance, Shree Renuka Sugars' one-day gain stands in contrast to the Sensex, which only rose by 0.36% on the same day. Over the past month, the stock has seen a decline of 4.74%, compared to a slightly lesser drop of 3.20% in the Sensex. These metrics highlight the stock's recent volatility within the midcap sugar industry.
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