) closed at ₹685.80 on September 25, 2026, up a strong 4.00% (+₹26.40) from the previous close of ₹659.40, extending a two-day rally that started the day before. 1)This is a genuine, sustained move, not a one-day blip. The stock gained 3.10% on September 24 and followed through with another 4.00% gain today, back-to-back strong sessions suggest real buying conviction. 2)The trigger appears to be a government-linked announcement. On September 24, the company issued a press release titled "Government of India Awards ₹..." (an official Regulation 30 disclosure), this kind of government incentive or award news is a plausible, concrete catalyst for the rally, distinct from routine market sentiment. 3)The stock is having a strong year overall. It's up 39.22% over the past year and 42.3% over the past six months, a standout performance, especially for a stock that touched a 52-week low of ₹393.55. 4)It's still meaningfully below its 52-week high. At ₹685.80, the stock remains below its 52-week high of ₹780.95, so despite the strong run, there's still room before it challenges its yearly peak. 5)Valuation has expanded with the rally. The stock now trades at a P/E of around 37-40x, a solid premium reflecting the market's positive read on the sugar and ethanol business.

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