Dhampur, Dwarikesh: Breakout in sugar stocks has room for more upside

Most brokerages have a positive stance on India's sugar industry as it appears well poised to benefit from global and domestic factors

Shares of sugar companies continued their northward journey at the bourses on Tuesday, with Bajaj Hindusthan rallying 10 per cent while Dhampur Sugar Mills and Dalmia Bharat Sugar rose 8 per cent, each.

Among other individual stocks, Dwarikesh Sugar Industries, Avadh Sugar & Energy, Uttam Sugar Mills, Triveni Engineering & Industries, EID Parry, Shree Renuka Sugars, and Balrampur Chini Mills were up in the range of 2-5 per cent. In comparison, the S&P BSE Sensex traded 0.9 per cent lower at 49,057, at 1:52 PM.

Most brokerages have a positive stance on India’s sugar industry as it appears well poised to benefit