Sugar stocks hit upper circuit; Upper Ganges zooms 20%
Ugar Sugar, Dwarikesh Sugar, Oudh Sugar, Parrys Sugar, Rajshree Sugar, Dharani Sugars and Mawana Sugars hit upper circuit on the BSE.
 "Sugar stocks hit upper circuit; Upper Ganges zooms 20%")
Shares of sugar companies back into focus and rallied by up to 20% on the bourses after correcting more than 20% from their 1-year high price.
10 sugar stocks – Ugar Sugar Works, Dwarikesh Sugar Industries, Oudh Sugar Mills, Parrys Sugar Industries, Rajshree Sugar Chemicals, Dharani Sugars & Chemicals, Rana Sugars, Riga Sugar Company, Mawana Sugars and Uttam Sugar Mills – have locked in their respective upper limit of circuit breaker on the BSE.
Upper Ganges Sugar & Industries locked in 20% upper circuit of Rs 373 on the BSE. A combined 3.93 million shares changed hands till 02:00 pm. There were pending buy orders 39,858 shares on the BSE and NSE.
On August 2, the stock hit a record high of Rs 533 during intra-trade, corrected 42% since then to close at Rs 311 on Wednesday.
Kesar Enterprises frozen upper circuit of 20% of Rs 54.70, after falling 40% from its 52-week high of Rs 76 till yesterday.
Total 38 sugar companies so far announced their April-June, 2016 quarter (Q1FY17) results, posted a combined net profit of Rs 467 crore against net loss of Rs 957 crore in the same period last year.
According to PTI reports, sugar production during the ensuing season of 2016-17 could be lower compared with the current year's estimated output of 252 lakh mt due to drought that hit Maharashtra and Karnataka, Lok Sabha was informed on last Tuesday. LINK.
10 sugar stocks – Ugar Sugar Works, Dwarikesh Sugar Industries, Oudh Sugar Mills, Parrys Sugar Industries, Rajshree Sugar Chemicals, Dharani Sugars & Chemicals, Rana Sugars, Riga Sugar Company, Mawana Sugars and Uttam Sugar Mills – have locked in their respective upper limit of circuit breaker on the BSE.
Upper Ganges Sugar & Industries locked in 20% upper circuit of Rs 373 on the BSE. A combined 3.93 million shares changed hands till 02:00 pm. There were pending buy orders 39,858 shares on the BSE and NSE.
On August 2, the stock hit a record high of Rs 533 during intra-trade, corrected 42% since then to close at Rs 311 on Wednesday.
Kesar Enterprises frozen upper circuit of 20% of Rs 54.70, after falling 40% from its 52-week high of Rs 76 till yesterday.
Total 38 sugar companies so far announced their April-June, 2016 quarter (Q1FY17) results, posted a combined net profit of Rs 467 crore against net loss of Rs 957 crore in the same period last year.
According to PTI reports, sugar production during the ensuing season of 2016-17 could be lower compared with the current year's estimated output of 252 lakh mt due to drought that hit Maharashtra and Karnataka, Lok Sabha was informed on last Tuesday. LINK.
| Company | 17/08/2016 | LTP | % chg |
| |
| UPPER GANG. SUG. | 310.65 | 372.75 | 19.99 | 532.60 | |
| KESAR ENTERPRISE | 45.60 | 54.70 | 19.96 | 75.90 | |
| SAKTHI SUGARS | 35.25 | 41.10 | 16.60 | 56.00 | |
| DHARANI SUGARS | 31.30 | 34.40 | 9.90 | 71.40 | |
| SIMBHAOLI SUGAR | 29.80 | 32.75 | 9.90 | 61.20 | |
| MAWANA SUGARS | 39.40 | 43.30 | 9.90 | 71.40 | |
| DCM SHRIRAM INDS | 187.05 | 205.50 | 9.86 | 229.00 | |
| RIGA SUGAR | 20.90 | 22.95 | 9.81 | 33.75 | |
| KCP SUGAR &INDS. | 32.25 | 35.30 | 9.46 | 45.90 | |
| KM SUGAR MILLS | 12.12 | 13.23 | 9.16 | 14.40 | |
| DALMIA BHARAT | 104.90 | 114.45 | 9.10 | 168.40 | |
| PONNI SUG.ERODE | 207.35 | 225.80 | 8.90 | 359.35 | |
| EMPEE SUGARS | 6.80 | 7.30 | 7.35 | 9.93 | |
| TRIVEN.ENGG.IND. | 50.50 | 54.15 | 7.23 | 68.00 | |
| PICCADILY AGRO | 18.25 | 19.50 | 6.85 | 24.70 | |
| THIRU AROOR. SU. | 65.55 | 69.90 | 6.64 | 118.85 | |
| SH.RENUKA SUGAR | 15.10 | 16.05 | 6.29 | 19.18 | |
| BAJAJ HINDUSTHAN | 16.90 | 17.90 | 5.92 | 24.20 | |
| Balrampur Chini | 110.50 | 117.00 | 5.88 | 138.00 | |
| DHAMPUR.SPL.SUG. | 18.90 | 20.00 | 5.82 | 22.50 | |
| DHAMPUR SUGAR | 107.30 | 113.50 | 5.78 | 137.65 | |
| Bannari Amm.Sug. | 1832.40 | 1933.00 | 5.49 | 2242.25 | |
| Oudh Sugar Mills | 90.00 | 94.50 | 5.00 | 160.95 | |
| Dwarikesh Sugar | 237.20 | 249.05 | 5.00 | 379.20 | |
| Uttam Sug.Mills | 47.35 | 49.70 | 4.96 | 98.00 | |
| Rajshree Sugars | 45.70 | 47.95 | 4.92 | 89.75 | |
| Parrys Sugar | 38.65 | 40.55 | 4.92 | 71.90 | |
| Ugar Sugar Works | 37.95 | 39.80 | 4.87 | 73.10 |