 "Sugar shares in focus; Andhra Sugars, Upper Ganges, Mawana Sugars hit 52-week highs")
Shares of sugar companies are in focus and rallied up to 10% on the BSE on expectation of strong earnings for quarter ended March 31, 2016 (Q4FY16).
Upper Ganges Sugar & Industries (11% at Rs 167), Andhra Sugars (up 10% at Rs 156), Kakatiya Cement Sugar & Industries (10% at Rs 417), Mawana Sugars (10% at Rs 37), Parry Sugar Industries (5% at Rs 56) and Ugar Sugar Works (4% at Rs 27) are trading at their respective 52-week highs on the BSE.
Dharani Sugars, Uttam Sugar Mills, Riga Sugar, Kesar Enterprises, Oudh Sugar Mills and Thiru Arooran Sugars are up between 3%-10%.
Upper Ganges Sugar & Industries and Ugar Sugar Works have announced that their board will meet on May 20 and May 13 respectively to consider and approve the audited financial results for the financial year ended March 31, 2016. The boards will also consider recommendation of dividend if any.
Upper Ganges Sugar & Industries will announce the dividend after a gap of five years.
For the quarter ended December 31, 2015 (Q3FY16), total 40 sugar companies had posted a net loss of Rs 78 crore against a loss Rs 962 crore in previous year quarter.
“In Q4FY16, sugar prices have bounced 33.2%, from lows of Rs 2360/MT, mainly due to erratic monsoon in major sugarcane producing states and pick up in festival demand,” Prabhudas Lilladher said in a results preview.
Parry Sugar Industries, the sole company from the sector thus far announced its Q4FY16 results, has posted nearly four-fold jump in its net profit at Rs 19.93 crore. It had profit of Rs 5.30 crore in the same quarter year ago. Net sales too surged four-fold at Rs 93.06 crore over the previous year quarter.
The stock of Parry Sugar Industries has locked in upper circuit for the straight trading sessions post March 2016 quarter results. It risen 34% from Rs 41.75 on April 29, as compared to a marginal 0.07% decline in the S&P BSE Sensex.
Upper Ganges Sugar & Industries (11% at Rs 167), Andhra Sugars (up 10% at Rs 156), Kakatiya Cement Sugar & Industries (10% at Rs 417), Mawana Sugars (10% at Rs 37), Parry Sugar Industries (5% at Rs 56) and Ugar Sugar Works (4% at Rs 27) are trading at their respective 52-week highs on the BSE.
Dharani Sugars, Uttam Sugar Mills, Riga Sugar, Kesar Enterprises, Oudh Sugar Mills and Thiru Arooran Sugars are up between 3%-10%.
Upper Ganges Sugar & Industries and Ugar Sugar Works have announced that their board will meet on May 20 and May 13 respectively to consider and approve the audited financial results for the financial year ended March 31, 2016. The boards will also consider recommendation of dividend if any.
Upper Ganges Sugar & Industries will announce the dividend after a gap of five years.
For the quarter ended December 31, 2015 (Q3FY16), total 40 sugar companies had posted a net loss of Rs 78 crore against a loss Rs 962 crore in previous year quarter.
“In Q4FY16, sugar prices have bounced 33.2%, from lows of Rs 2360/MT, mainly due to erratic monsoon in major sugarcane producing states and pick up in festival demand,” Prabhudas Lilladher said in a results preview.
Parry Sugar Industries, the sole company from the sector thus far announced its Q4FY16 results, has posted nearly four-fold jump in its net profit at Rs 19.93 crore. It had profit of Rs 5.30 crore in the same quarter year ago. Net sales too surged four-fold at Rs 93.06 crore over the previous year quarter.
The stock of Parry Sugar Industries has locked in upper circuit for the straight trading sessions post March 2016 quarter results. It risen 34% from Rs 41.75 on April 29, as compared to a marginal 0.07% decline in the S&P BSE Sensex.
