Shares of sugar producing companies are in limelight on the bourses in otherwise subdued market after the spot sugar prices increased to a record high on the Vashi wholesale market on heavy demand from stockist. Inadequate rainfall, rising demand due to forthcoming festivities have spiralling the sugar prices.
According to PTI reports, small sugar (S-30) shot up by Rs 81/74 per quintal to Rs 3,472/3,535 at the Vashi wholesale market from last Saturday's closing level of Rs 3,391/3,461 on Monday. Medium sugar (M-30) climbed by Rs 60/80 per quintal to Rs 3,521/3,621 as against Rs 3,461/3,541 last weekend.
Among the individual stocks, Shree Renuka Sugars, Bajaj Hindustan, Balrampur Chini Mills, EID Parry (India) and Triveni Engineering and Industries have rallied up to 5% each on the Bombay Stock Exchange, as compared to a marginal 0.31% rise in benchmark Sensex at 1121 hours.
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