Stock below Rs 30: Keep an eye on this sugar stock, which was locked in the upper circuit on December 16

The stock has increased by 88.85 per cent in 6 months, although the BSE Sensex has only increased by 19.43 per cent.

One of the Top Gainers on the BSE today, shares of Shakti Sugars Ltd surged 20 per cent to reach the upper price band of Rs 28.80 per share. Additionally, the shares also traded at a new 52-week high of Rs 28.80 apiece. The company's stock price rose significantly today after the government announced an increase in the sugar export quota for the financial year 2022-2023.

In quarterly and annual financial statements, the corporation presented excellent figures. According to annual reports, the company reported a net loss of Rs 60.73 crore, it skyrocketed to a net profit of Rs 4.93 crore or 108.2 per cent in FY23. The stock price CAGR for 1 year is 89 per cent. All of this points to excellent managerial performance and hence it witnessed some fresh buying today.

Sakthi Sugars Limited is engaged in the business of manufacturing sugar, industrial alcohol, power and soya products. Today, shares of the company saw a spurt in volume by more than 12.44 times on BSE.

The stock has increased by 88.85 per cent in 6 months, although the BSE Sensex has only increased by 19.43 per cent. The stock PE multiple is 2.15 whereas the industry PE multiple is 17.2. Investors should keep this stock on their watchlist.