Sugar stocks extend rally; Uttam, Dhampur Sugar gain over 50% in one month

Magadh Sugar, Avadh Sugar, Dalmia Bharat Sugar, Balrampur Chini and Dwarikesh Sugar, Triveni Engineering & Industries were up in the range of 30 to 46 per cent during past one month.

Shares of sugar companies such as Uttam Sugar Mills, DCM Shriram Industries, Dalmia Bharat Sugar and Industries, Avadh Sugar & Energy, Dwarikesh Sugar Industries, Mawana Sugars and Ugar Sugar Works rallied up to 16 per cent on Thursday in the intra-day trade on the back of positive development in the sector. In comparison, the S&P BSE Sensex was up 0.20 per cent at 35,977 levels at 02:51 pm.

The hike in minimum selling price of sugar by 7 per cent to Rs 31 per kg from Rs 29 per kg, approved by the union cabinet recently, is expected to address