The Cabinet Committee on Economic Affairs (CCEA) has agreed to fix the fair and remunerative price (FRP) for sugarcane at Rs 255 per quintal for the new sugar season (October-September) in a meeting held on May 24, 2017.
This 11% rise in FRP has taken place after two years. Last year, the government had kept prices unchanged at Rs 230 per quintal.
ICRA, a leading research and credit rating agency, said the 11% increase FRP for sugarcane is likely to impact sugar millers’ margins.
Dhampur Sugar Mills Ltd is currently trading at Rs 182.25, up by Rs 4.9 or 2.76% from its previous closing of Rs 177.35 on the BSE.
The scrip opened at Rs 183.9 and has touched a high and low of Rs 184 and Rs 181 respectively. So far 329215(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1177.38 crore.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 256.6 on 21-Apr-2017 and a 52 week low of Rs 91.15 on 01-Jun-2016. Last one week high and low of the scrip stood at Rs 214.25 and Rs 176.15 respectively.
The promoters holding in the company stood at 49.09 % while Institutions and Non-Institutions held 5.03 % and 45.88 % respectively.
The stock is currently trading below its 50 DMA.
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