Dwarikesh Sugar gets Q2 results boost

The stock gained momentum after the company announced impressive Q2 results, said dealing room sources. The company posted a net profit of Rs 11.62 for the quarter ended March 2005 as against a net loss of Rs 1.60 crore in the same quarter last year. Its net sales rose 3.6 per cent to Rs 40.41 crore from Rs 38.99 crore.

Market analysts said, sugar sector stocks are in the limelight of late on back of firm sugar prices. The stock, however, has been declining in the past few days on overall weakness in the market. From a life-time high of Rs 186.60 on February 28, the stock is currently trading at Rs 150 levels.

-Market Bureau
Business standard
Date: 19-4-2005