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%
 "Sugar stocks rally on hopes of debt restructuring")
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
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 |