Mawana Sugars soars after McKinleys Growth Fund picks up stake

17 Feb 2022 , 11:29 AM

According to the bulk deals on the NSE, McKinley Capital Emerging Markets Growth Fund Series A purchased 2,65,688 shares of Mawana Sugars (representing 0.68% stake) on the NSE on Wednesday (16 February 2022) at an average price of Rs 103.67 per share.

Mawana Sugars is part of the Siddharth Shriram Group which is a diversified group with business interests in sugar, chemicals, edible oils, sewing machines, fans, home appliances, lighting products, engines and automotive components. MSL is engaged in the manufacturing and marketing of sugar, ethanol and co- generation of power at its units at Mawana Sugar Works, Meerut, (U.P.) and Nanglamal Sugar Complex, Meerut (U.P.). The company also has capacity to manufacture chlor-alkalies chemicals such as caustic soda, chlorine, hydrogen, etc. in Siel Chemical Complex (SCC), Rajpura, Punjab.

The company reported a consolidated net profit of Rs 15.19 crore in the quarter ended December 2021 as against net loss of Rs 21.39 crore during the previous quarter ended December 2020. Sales rose 41.43% YoY to Rs 487.59 crore in Q3 FY22.

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