Triveni Engineering is in a sweet spot, growth drivers are in place, says Sharekhan; retains 'buy'

Triveni Engineering is the largest integrated sugar manufacturer and market leader in engineering businesses in India. It currently has seven sugar mills in operation and is involved in other ventures such as retail stores and FMCG trading. Its sugar business is in a favourable position due to its presence in western Uttar Pradesh and de-bottlenecking in three of its sugar units. Production is projected to increase over the next two years, with higher production anticipated in FY2024, and a hike in realization due to increasing demand for bio-fuels is expected to improve the profitability of distillery businesses.

Triveni Engineering sells entire 21.85% stake in Triveni Turbines for  <span class='webrupee'>₹</span>1,600 crore

The shares have been sold to Rati Sawhney, one of the promoter of Triveni Turbine, and a few institutional investors, including sovereign wealth funds of Singapore and Abu Dhabi as also a few domestic mutual funds.

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Triveni Engineering is in a sweet spot, growth drivers are in place, says Sharekhan; retains 'buy'

markets

Triveni Engineering sells entire 21.85% stake in Triveni Turbines for ₹1,600 crore