Sugar shares in focus; Upper Ganges, Oudh Sugar up 20%

Upper Ganges, Oudh Sugar, Mawana Sugars, Kesar Ent, Dwarikesh Sugar and Simbhaoli Sugar were up 11% to 20%.

Shares of sugar companies moved higher by up to 20% on the BSE in otherwise range bound market.

Upper Ganges Sugar & Industries, Oudh Sugar Mills, Mawana Sugars, Kesar Enterprises, Dwarikesh Sugar Industries, Simbhaoli Sugar, Dalmia Bharat Sugar & Industries, Dhampur Sugar Mills and Balrampur Chini Mills were up between 7% and 20% on the BSE.  At 02:31 pm, the S&P BSE Sensex was down 0.22% at 26,169.

According to Business Standard report the Uttar Pradesh government on Friday hiked the state sugarcane price by Rs 25 per quintal or a little over 9% to Rs 305 per quintal for the ongoing 2016-17 crushing season.

The existing UP cane State Advised Price (SAP) of Rs 280 per quintal for common variety, that forms the bulk of cane produced, had not been revised for the last three years, added report. CLICK HERE TO READ FULL REPORT

COMPANY	LATEST	PREV CLOSE	GAIN(%)
UPPER GANG. SUG.	261.05	217.55	20.00
OUDH SUGAR MILLS	96.40	80.35	19.98
MAWANA SUGARS	41.50	35.95	15.44
UTTAM SUG.MILLS	46.30	40.50	14.32
DWARIKESH SUGAR	258.00	226.30	14.01
RAJSHREE SUGARS	56.40	50.30	12.13
TRIVEN.ENGG.IND.	57.65	51.45	12.05
DALMIA BHARAT	109.40	97.80	11.86
DHAMPUR SUGAR	114.40	103.30	10.75
KESAR ENTERPRISE	34.45	31.35	9.89
SIMBHAOLI SUGAR	28.45	25.95	9.63
RANA SUGARS	9.29	8.48	9.55
DCM SHRIRAM INDS	246.00	224.80	9.43
PONNI SUG.ERODE	208.00	190.45	9.22
RIGA SUGAR	21.35	19.80	7.83
SAKTHI SUGARS	31.20	28.95	7.77
EMPEE SUGARS	7.05	6.55	7.63
BALRAMPUR CHINI	118.10	110.85	6.54
PARRYS SUGAR	38.00	36.10	5.26
DHARANI SUGARS	28.55	27.15	5.16