Sugar shares rally on firmer prices
Category: Sugar
(Business Standard) – Shares in sugar manufacturer have rallied up to 10% on expectations of higher demand during the summer season from bulk consumers such as ice-cream makers in the spot market.
Andhra Sugars, Balrampur Chini Mills, Bajaj Hindustan, EID Parry, Dhampur Sugar Mills, Upper Ganges Sugar, Sakthi Sugars and Shree Renuka Sugars are up 3-10% on the Bombay Stock Exchange (BSE). The benchmark S&P BSE Sensex however, down 0.16% at 22,349 at 1145 hours.
At the National Commodity and Derivatives Exchange, sugar for delivery in April advanced by Rs 43, or 1.37% to Rs 3,188 per quintal with an open interest of 29,440 lots.
Similarly, the sweetener for delivery in May moved up by Rs 33 or 1.04% to Rs 3,201 per quintal in 39,480 lots.
Among the individual stocks, Upper Ganges Sugar and Industries is locked in upper circuit of 10% at Rs 31.90 on the BSE. Andhra Sugars has rallied 9% to Rs 106, followed by Dhampur Sugar Mills (7% at Rs 44), while Bajaj Hindustan, Balrampur Chini Mills and EID Parry are up 6% each.
