As many as 1.11 lakh shares were traded on the BSE. There were pending buy orders for 45,238 shares at the maximum price.

The counter has rallied since late July 2006. From a low of Rs 20.95 on 21 July, it rose to Rs 29.15 by 11 August, only to slip to Rs 27.50 on 18 August 2006.

At the current market price of Rs 30.20, Rana Sugars trades at 14.17 times its Q1 June 2006 annualized EPS of Rs 2.13.

Rana Sugars announced that during the first operating year, the company has been allocated country liquor equivalent to more than 16 lakh cases of country liquor of 50 degree. This will be supplied before 31 March 2007 and will generate a revenue of Rs 41 crore. Further, the Punjab Government has also allotted the company L-13 licenses in 12 districts of the state. The quota is to be supplied by the company to 4,000 retail country liquor vendors, spread over the entire state.

Further, as per the special package of incentives, the Government of Punjab has agreed to exempt the unit from excise duty up to Rs 25 crore in 10 consecutive years, subject to maximum of Rs 2.5 crore in one year. The other sops include exemption from payment of electricity duty for a period of 5 years; exemption from stamp duty on purchase of additional land; and permission to use grain as an alternate raw material.

As per reports in March, Rana Sugars had planned to put up two sugar units in Uttar Pradesh, each having the capacity to crush 5,000 tonnes of sugarcane per day and facilities for the co-generation of 20 Mw of power, with an initial investment of around Rs 410 crore. Later, the capacities will be upgraded to 10,000 tonnes of sugarcane per day and a distillery will come up with an 85 kilolitre per day capacity. The two sugar unit will be located in the Moradabad and Rampur districts.

Rana Sugars, part of the Rana group, manufactures white crystal sugar for domestic use and for confectionery and pharmaceutical purposes. There are two byproducts in the manufacture of white crystal sugar -- molasses and bagasse. Molasses is used to manufacture alcohol and citric acid. Bagasse is used as a raw material in the paper industry and also as fuel to generate steam and power.

Rana Sugar registered a net profit growth of 48% to Rs 3.97 crore (Rs 2.68 crore) from Q1 June 2006. Net sales during the period rose 44.8% to Rs 36.85 crore (Rs 25.45 crore).