Meanwhile, the BSE Sensex was down 325.07 points, or 1.90%, at 16915.15, tracking weakness in global equities. On Wednesday, 21 May 2008, the US Federal Reserve cut its 2008 US economic growth forecast and signaled that mounting concerns over inflation would make further interest rate cuts unlikely, driving the three major US indexes down over 1.5%. Oil prices surged to a record high above $135 per barrel on Thursday, 22 May 2008, stoking fears of global inflation.

On BSE, 9.26 lakh shares were traded in the counter. The scrip had an average daily volume of 2.62 lakh shares in the past one quarter.

The stock hit a high of Rs 18.30 and a low of Rs 16.05 so far during the day. The stock had a 52-week high of Rs 25 on 8 January 2008 and a 52-week low of Rs 11.80 on 24 March 2008.

The scrip had outperformed the market over the past one month till 21 May 2008, gaining 13.24% compared to the Sensex’s 2.74% gain. It had also outperformed the market in the past one quarter, rising 1.81% compared to Sensex’s 2.77% fall.

The small-cap sugar manufacturer has an equity capital of Rs 76.62 crore. Face value per share is Rs 10.

The current price of Rs 17.20 discounts its Q2 March 2008 annualised EPS of Rs 5.86, by a PE multiple of 2.93.

The net profit of Rana Sugars surged 1574.6% to Rs 11.22 crore on a 14.2% rise in sales to Rs 59.01 crore in Q2 March 2008 over Q2 March 2007.

Rana Sugars, part of the Rana group, manufactures white crystal sugar for domestic use as well as for confectionery and pharmaceutical purposes.