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Sugar shares in focus; Dhampur, Mawana, Dwarikesh up over 4%

Avadh Sugar, Magadh Sugar and Uttam Sugar Mills were trading higher by more than 5% on BSE

SI Reporter  |  Mumbai 

Settlement of arrears within 14 days of sale was a prominent pre-poll promise of the Bharatiya Janata Party
Settlement of arrears within 14 days of sale was a prominent pre-poll promise of the Bharatiya Janata Party

Shares of companies were trading higher by up to 20% on BSE in otherwise weak market after the government imposed a limit on the amount of that mills can sell in the market during February and March. The market price of Avadh & Energy, Dhampur Mills, Magadh Sugar, Mawana Sugars, Dwarikesh and Uttam Mills were trading higher by more than 4% on BSE. Dalmia Bharat Sugar, Triveni Engineering & Industries, Thiru Arooran Sugars, Sakthi Sugars, Shree Renuka Sugars and Rajshree Sugars up in the range of 3% to 4%. In comparison, the S&P BSE Sensex was trading 1.4% or 480 points lower at 33,933 at 10:29 AM.

COMPANY LATEST PREV CLOSE GAIN(%)
AVADH SUGAR 809.70 674.75 20.00
DHAMPUR SUGAR 208.40 193.80 7.53
MAGADH SUGAR 181.00 169.05 7.07
MAWANA SUGARS 64.15 60.55 5.95
UTTAM SUG. MILLS 121.40 115.10 5.47
DWARIKESH SUGAR 42.30 40.55 4.32
TRIVEN. ENGG. IND. 67.85 65.15 4.14
DALMIA BHARAT 110.30 106.15 3.91
GAYATRI SUGARS 12.10 11.69 3.51
THIRU AROOR. SU. 47.85 46.25 3.46
This move is to prevent prices from falling sharply, which, in turn, would help mills in making sugarcane payments quicker to farmers. At the end of February mills need to be holding as inventory at least 83% of the opening stock from January and February's production.

The limit is 86% for the end March, the Reuters report suggested quoting the government order. CLICK HERE TO READ FULL REPORT The government increased the import duty on to 100% from 50% on Tuesday. The prime reason for the rise in import duty is to keep a check on the falling prices and to avoid any cheaper imports of from Pakistan in the wake of expected higher domestic production in the current season 2017-18. The hike in import duty is expected to provide support the prices and keep them stable in the near term, CARE Ratings said in a note. Also, it is import to watch if the government takes some measures on the export front such as reduction in export duty on or incentivises exports when the production comes in full swing in the March quarter to avoid any surplus situation, it added. Most the stock have fallen an over 40% from their respective one-year highs and hitting 52-week lows on BSE in earlier of the current week.

One-year high One-year low %
Company Date Price Date Price Chg
Riga Sugar 25/04/2017 39.90 05/02/2018 11.90 -70.2
Sir Shadi Lal 20/09/2017 172.00 05/02/2018 53.55 -68.9
Magadh Sugar 28/07/2017 364.00 05/02/2018 128.55 -64.7
KM Mills 08/02/2017 37.50 05/02/2018 14.70 -60.8
Mawana Sugars 11/09/2017 144.90 06/02/2018 57.70 -60.2
Rana Sugars 08/02/2017 14.85 08/02/2018 6.01 -59.5
Ugar Works 08/02/2017 43.00 05/02/2018 19.85 -53.8
Dwarikesh Sugar 11/10/2017 80.50 05/02/2018 37.25 -53.7
Simbhaoli Sugar 09/02/2017 39.20 05/02/2018 18.90 -51.8
Sakthi Sugars 08/02/2017 43.20 05/02/2018 21.30 -50.7
Dalmia Bharat 05/05/2017 193.35 05/02/2018 98.75 -48.9
Rajshree Sugars 03/11/2017 74.80 06/02/2018 38.30 -48.8
Triven. Engg. Ind. 08/08/2017 107.90 05/02/2018 57.00 -47.2
Dhampur Sugar 01/11/2017 330.85 05/02/2018 174.95 -47.1
Thiru Aroor. Su. 08/02/2017 81.95 06/02/2018 43.75 -46.6
Balrampur Chini 13/09/2017 182.50 05/02/2018 105.70 -42.1
DCM Shriram Inds 17/05/2017 385.00 06/02/2018 228.00 -40.8
KCP &Inds. 16/02/2017 42.60 05/02/2018 25.40 -40.4
Ponni Sug. Erode 08/02/2017 230.00 06/02/2018 143.00 -37.8
Bajaj Hindusthan 02/01/2018 18.80 06/02/2018 12.85 -31.6

First Published: Fri, February 09 2018. 11:15 IST
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