Sugar shares in focus on import duty hike; Dwarikesh Sugar hits record high

Dwarikesh Sugar, Uttam Sugar, Avadh Sugar, Dhampur Sugar Mills and Simbhaoli Sugar were up 4%-5%

Shares of sugar companies were trading higher by up to 5% on the BSE on expectation of favourable outlook in FY2018, supported by the recent hike in import duty and a tight domestic stock situation.

Dwarikesh Sugar Industries, Uttam Sugar Mills, Avadh Sugar, Dhampur Sugar Mills, Simbhaoli Sugar and Thiru Arooran Sugars were up in the range of 4% to 5% on BSE. In comparison, the S&P BSE Sensex was up 0.36% at 32,425 points at 10:52 am.

Dwarikesh Sugar Industries (DSIL) surged 6% to Rs 508, also its record high on BSE. In the last eight trading