Sugar shares in focus; Shree Renuka surges 20%
Bajaj Hindustan, Ugar Sugar, Simbhaoli Sugars and Sakthi Sugar rallied more than 10% on BSE.
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Shares of sugar companies were in focus with Shree Renuka Sugars, Bajaj Hindustan, Ugar Sugar Works, Simbhaoli Sugars and Sakthi Sugar rallying more than 10% in an otherwise range-bound market.
According to Business Standard report the central government is considering steps to protect the industry and farmers’ realizations as sugar production in India is estimated to go up 25-30% in the sugar year 2017-18.
“These include a rise in the import duty from the present 40%, a higher ethanol price for supplying to oil marketing companies (OMCs) and reviewing the goods and services tax (GST) rates for ethanol and molasses. The import duty rise could come anytime and be up to 20% higher, to ensure no more than the 500,000 tonnes of permitted import takes place,” added report. CLICK HERE TO READ FULL REPORT.
Shree Renuka Sugars has surged 20% at Rs 15.66 on BSE in intra-day trade on back of an over 10-fold jump in trading volumes. A combined 10.35 million shares have already changed hands on the counter on BSE and NSE. At 12:15 pm, the S&P BSE Sensex was down 0.12% at 31,332.
According to Business Standard report the central government is considering steps to protect the industry and farmers’ realizations as sugar production in India is estimated to go up 25-30% in the sugar year 2017-18.
“These include a rise in the import duty from the present 40%, a higher ethanol price for supplying to oil marketing companies (OMCs) and reviewing the goods and services tax (GST) rates for ethanol and molasses. The import duty rise could come anytime and be up to 20% higher, to ensure no more than the 500,000 tonnes of permitted import takes place,” added report. CLICK HERE TO READ FULL REPORT.
Shree Renuka Sugars has surged 20% at Rs 15.66 on BSE in intra-day trade on back of an over 10-fold jump in trading volumes. A combined 10.35 million shares have already changed hands on the counter on BSE and NSE. At 12:15 pm, the S&P BSE Sensex was down 0.12% at 31,332.
| COMPANY | LATEST | PREV CLOSE | GAIN(%) | VOLUME |
| SH.RENUKA SUGAR | 15.66 | 13.05 | 20.0 | 3988632 |
| UGAR SUGAR WORKS | 29.30 | 25.60 | 14.5 | 213756 |
| SIMBHAOLI SUGAR | 33.30 | 29.30 | 13.7 | 48173 |
| SAKTHI SUGARS | 32.20 | 28.35 | 13.6 | 144844 |
| RAJSHREE SUGARS | 58.15 | 51.95 | 11.9 | 11309 |
| RANA SUGARS | 9.51 | 8.52 | 11.6 | 294504 |
| THIRU AROOR. SU. | 63.00 | 56.60 | 11.3 | 5343 |
| BAJAJ HINDUSTHAN | 16.60 | 14.97 | 10.9 | 3516174 |
| DHARANI SUGARS | 29.35 | 26.50 | 10.8 | 29673 |
| KM SUGAR MILLS | 23.95 | 21.90 | 9.4 | 112706 |
| KCP SUGAR &INDS. | 33.20 | 30.75 | 8.0 | 117778 |
| DHAMPUR SUGAR | 203.05 | 189.15 | 7.4 | 149957 |
| UTTAM SUG.MILLS | 140.30 | 130.70 | 7.4 | 22376 |
| MAWANA SUGARS | 82.30 | 78.10 | 5.4 | 59239 |
| SIR SHADI LAL | 111.70 | 106.05 | 5.3 | 2583 |
| DALMIA BHARAT | 151.00 | 143.55 | 5.2 | 43202 |
| PONNI SUG.ERODE | 200.25 | 190.80 | 5.0 | 826 |
| DWARIKESH SUGAR | 447.00 | 428.30 | 4.4 | 88419 |
| GAYATRI SUGARS | 8.45 | 8.12 | 4.1 | 72056 |
| TRIVEN.ENGG.IND. | 77.40 | 74.40 | 4.0 | 155013 |