Shree Renuka bags ethanol supply order

Shree Renuka Sugars (Q,N,C,F)* has received letters of intent for supply of 118 million litres of ethanol to the oil marketing companies (IOC, HPCL, BPCL) for states of Karnataka, Andhra Pradesh, Kerala, Goa and Maharashtra for a period of one year.

The stock had outperformed the market over the past one month till Oct. 05, 2010, rising 24.87% compared with the Sensex`s 12.00% rise. It outperformed the market in past one quarter, gaining 26.06% as against 17.01% rise in the Sensex.

Shares of the company gained Rs 0.35, or 0.41%, to trade at Rs 86.45. The total volume of shares traded was 501,891 at the BSE (12.33 p.m., Wednesday).