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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.

Sugarcane mill
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Diverting sugarcane juice for making ethanol is a common practice across the world

SI Reporter Mumbai
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

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First Published: Feb 28 2019 | 3:11 PM IST

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