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| Sugar stocks soar amid price hike, poor rainfall |
| BS Reporter / Mumbai Aug 10, 2009, 16:52 IST |
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Shree Renuka gained 3% at Rs 179. Bajaj Hindustan, Dhampur Sugar Mills and Rana Sugar rallied 5% each to settle at Rs 36, Rs 81 and Rs 15, respectively.
Thiru Arooran also surged 5% to Rs 141. Bannari Amman, Simbhaoli Sugar and Dwarikesh Sugar soared 4.5% each to Rs 1,300, Rs 60 and Rs 106, respectively.
Balrampur Chini Mills, however, was shed marginally to close at 119.
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(Updated 1215 hrs)
Sugar stocks has surged amid ongoing monsoon worries. The states in the northern belt of India which are the main sugarcane producers have received scanty rainfall so far.
Meanwhile, international sugar prices have reached to fresh 28-year highs. Companies which import sugar, will be selling at a higher price to recover costs.
Shree Renuka sugars has surged 4.5% to Rs 182. Around 682,183 shares have been traded on the BSE so far.
Bajaj Hindustan has gained 2% at Rs 184.
Dhampur Sugar Mills is locked at its 5% upper circuit of Rs 81.50 - with 13,993 buy orders pending at the counter. Rana Sugar, Uttam Sugars and Thiru Arooran are also locked at their 5% upper circuits of Rs 14.89, Rs 66 and Rs 141, respectively.
Bannari Amman has moved up 3% to Rs 1,282. Simbhaoli SUgar has advanced 3.5% to Rs 59.35.
Balrampur Chini Mills and Triveni Industries have added 2.5% each to Rs 124 and Rs 112, respectively.
Dwarikesh Sugar Industries is up 2% at Rs 104. Oudh Sugar and Andhra Sugar are up over 1% each.
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