Top trending stock under Rs 100: This low PE multibagger sugar stock has witnessed fresh buying interest! Do you own it?

​​​​​​​The stock is a proven multibagger, having generated over 600 per cent returns to its shareholders in the past 3 years.  

Fundamentally strong growth stocks have seen huge buying sentiment lately, thanks to improving global cues and economic recovery. Meanwhile, the sugar stocks have recorded fresh interest from the investors amid higher exports prospects. Exports quota hike from the government has boosted investors’ sentiment towards the sugar stocks and the stock which has benefitted the most has been Ugar Sugar Works Ltd.

The stock of UGARSUGAR has soared over 200 per cent on YTD basis and has outperformed most of its peers. The stock is a proven multibagger, having generated over 600 per cent returns to its shareholders in the past 3 years. Primarily engaged in the production of sugar, sugar by-products and ethanol, the Rs 1,000 crore market cap company has seen robust demand in the past few quarters.   

Technically, the stock has registered a strong price volume breakout from its triangle pattern. Also, it has broken out from its 36-week cup pattern which is considered very positive over the medium term. The stock has hit a fresh 52-week high during Tuesday’s trading session. All the moving averages are in an uptrend and show bullishness across all time periods. Overall, the stock is technically bullish and is expected to continue its uptrend for times to come.   

Interestingly, the stock trades at an attractive valuation, given the PE of 17.51 as against sector PE of 20.03. Currently, the UGARSUGAR share price trades at Rs 93 level on NSE. Long term investors can consider tracking this Smallcap multibagger stock for upcoming trading sessions.