Penny stock, Davangere Sugar share price surged 5% on Friday, 15 May, after Mauritius-based institutional investor Craft Emerging Market Fund PCC acquired 5 crore shares in the company through a bulk deal executed on 14 May 2026.
The investment was split equally between the fund’s Citadel Capital Fund and Elite Capital Fund, with each purchasing 2.5 crore shares. The transaction was carried out at ₹3.65 per share, taking the total deal value to approximately ₹18.25 crore, as per the company’s release.
On 14 May, shares of Davangere Sugar had already surged 6.42% to finish at ₹3.81 each, after reaching an intraday high of ₹4.03.
This investment occurs amid rising optimism in India’s ethanol and clean energy sectors, driven by government-supported ethanol blending goals, efforts to diversify fuel sources, and a growing emphasis on renewable energy. Analysts suggest that integrated sugar and ethanol firms are well-positioned to benefit from the sector’s long-term structural growth.
Davangere Sugar has been consistently growing its ethanol operations and presently has an ethanol production capacity of 150 KLPD (kilo litres per day).
In a release, the company indicated that the investment from Craft Emerging Market Fund represents a significant endorsement from an institution regarding the company’s potential for future growth.
Additionally, this transaction underscores international investors’ increasing confidence in Indian manufacturing and renewable energy businesses, aligning with the company’s goal of becoming India’s next ethanol leader.
“The participation by Craft Emerging Market Fund reflects confidence in the company’s long-term growth vision and its positioning within India’s evolving ethanol sector. We remain focused on strengthening operational performance, enhancing efficiencies and building sustainable value for stakeholders. As the ethanol industry continues to expand in India, we believe the company is well-positioned to capitalise on future opportunities,” said the management in a press release.
Davangere Sugar share price today
Davangere Sugar share price today opened at ₹3.84 per share on the BSE, touched an intraday high of ₹4, and an intraday low of ₹3.76 per share.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, the stock prices have shown traction over the last two days and are up around 6% this week.
“We are seeing a range breakout and strong weekly formation on candlestick crossovers on all major averages, while this is a penny stock, prices can extend upmove towards 4.2, and support is placed around 3.6,” said Bhosale.
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