Keep an eye on this stock, which was locked in the upper circuit on December 02

Today, the stock of this company was locked at 20 per cent at Rs 29.20.

One of the Top Gainers on the BSE today, shares of SBEC Sugar Ltd surged 20 per cent to reach the upper price band of Rs 29.20 per share. Today, the company's stock price has risen dramatically as it has seen some positive attraction in the past few trading sessions. 

The company has an ROE of 33.05 per cent and a ROCE of 5.80 per cent. Thus, the increase in the stock price is primarily due to the company's better results in FY23 than in FY22 and hence it witnessed some fresh buying. As of Q2FY23, the shareholding pattern of the company is promoters holding 65.13 per cent, FIIs holding 2.01 per cent, and the public holding 32.87 per cent, respectively. 

SBEC Sugar is primarily engaged in the production of high-quality white crystal sugar at its plant located in the heart of the sugarcane belt of Western UP. The unit has a capacity of 60,000 tons of sugar per annum which has been increased to 1,20,000 tons per annum at present. Today, the shares of SBEC Sugar Ltd saw a spurt in volume by more than 28 times on BSE.   

The stock is up by 48.22 per cent in one year while BSE Sensex is up by 8.96 per cent in one year. Investors must keep this stock on their watch list.