Sugar stocks rally on hopes of debt restructuring

Dwarikesh Sugar, Oudh Sugar, Upper Ganges, Parrys Sugar, Mawana Sugars and Rana Sugars up 6% to 15%

Shares of sugar companies gained by up to 15% on the BSE in early morning trade after the media report suggest that the Union finance ministry is considering a proposal to restructure sugar mills’ debt, which is under severe stress due to lack of capacity utilisation.

Dwarikesh Sugar Industries, Oudh Sugar Mills, Upper Ganges Sugar, Parrys Sugar Industries, Uttam Sugar Mills, Dharani Sugar & Chemicals, Mawana Sugars, Rana Sugars, Rajshree Sugars and Simbholi Sugars were up between 6% and 15% on the BSE. At 09.41 am; the S&P BSE Sensex was up 0.69% or 181 points at 26,547.

According to Business Standard reports, Indian Sugar Mills Association (Isma) requested the government to restructure sugar mills’ debt under a scheme similar to S4A, which is for major industries having exposure of Rs 500 crore and above. CLICK HERE TO READ FULL REPORT

COMPANY	LATEST	PREV CLOSE	GAIN(%)
RANA SUGARS	10.90	9.44	15.47
UPPER GANG. SUG.	313.65	285.15	9.99
KESAR ENTERPRISE	41.80	38.05	9.86
EMPEE SUGARS	7.04	6.41	9.83
UTTAM SUG.MILLS	53.35	48.60	9.77
THIRU AROOR. SU.	57.00	52.00	9.62
OUDH SUGAR MILLS	108.60	99.15	9.53
DWARIKESH SUGAR	323.00	298.20	8.32
PONNI SUG.ERODE	211.00	194.90	8.26
SAKTHI SUGARS	35.70	33.20	7.53
PARRYS SUGAR	48.55	45.30	7.17
DALMIA BHARAT	138.05	128.95	7.06
SIMBHAOLI SUGAR	28.90	27.00	7.04
MAWANA SUGARS	47.75	44.65	6.94
MONNET PROJECT	14.50	13.60	6.62
SH.RENUKA SUGAR	13.94	13.09	6.49
DHARANI SUGARS	32.75	30.80	6.33
GAYATRI SUGARS	10.10	9.50	6.32
RAJSHREE SUGARS	58.00	54.55	6.32
DHAMPUR SUGAR	133.60	125.70	6.28