Shree Renuka Sugars is on the surge today, up currently3% at Rs.23.25, with an intra day high and low at Rs.23.90 and Rs.23.30. Its 52-week high is at Rs.35.90.

The stock is up on unconfirmed news reports that the Wilmar International is interested in picking uo a majority stake in the company and even initiated talks for the same. It’s a well known fact that Shree Renuka has been scouting around for a buyer for its stake to bring down its debt but it is not known if the company would be interested in paring a majority stake. Promoters currently hold 38.36% stake in the company.

Shree Renuka had ended Q1FY14 with a net loss at Rs.64 crore.