Introduction
Sugar prices have been on the rise for the past few months, and demand is also strong. However, some problems have arisen in the supply of sugar. In addition, the Indian government has announced an aggressive stance towards ethanol production. This development indicates good times for sugar companies, as ethanol has a strong effect on sugar production.
Stock To Buy: EID Parry India
EID Parry India is one such sugar company that is experiencing strong buying in its shares. The shares of EID Parry India Company were trading at Rs 545, up five percent in Thursday’s trading session. As of today, Friday, September 15, 2023, the shares of EID Parry India Company have closed at a price of Rs. 562.00 with an increase of 3.17 percent.
Share target price
IDBI Capital Firm has advised buying shares of EID Parry India Company. The current trading price of these shares is Rs. 562. Experts recommend buying the stock at a falling price, with a target price range between Rs 495 and Rs 530. It is crucial to set a stop loss while investing to avoid potential losses. Tangni has advised setting a stop loss of Rs 495. Experts predict that the shares of EID Parry India Company may touch Rs 675 in the next 2-3 months.
Company Performance
EID Parry India Company’s 52-week high price was Rs. 670, while the lowest level price was Rs. 433. The market capitalization of this company is Rs 9600 crore. The shares of this company have been consistently increasing over the last few days, with the price rising from Rs 505 to Rs 562 today.
In the last one month, the stock of this company has yielded a return of 20.83 percent to its investors. Over the past three months, the company’s stock has provided a 16 percent return, and in the last six months, it has generated a profit of 11.82 percent for its shareholders.
About EID Parry India Company
EID Parry India is the first sugar manufacturing company in India and is headquartered in Chennai. It is a part of the renowned Murugappa Group. The company commenced sugar production in 1842 and established its first distillery in 1843. With a history of 235 years, EID Parry India still maintains a strong position in the sugar industry.
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