Sugar stocks rally for second straight day; Balrampur Chini hits 13-yr high

Balrampur Chini Mills surged 5% to Rs 183, to quote at its highest level since May 2006. In the past month, it has outperformed the market by zooming 24%, as compared to a 1% rise in the Sensex

Shares of sugar manufacturers extended their rally for the second day in a row, with sector giant Balrampur Chini Mills hitting 13-year high on Friday on the BSE. Lower cane crushing and subsequent decline in sugar production has led to sugar stocks ralling in the past few sessions.

Balrampur Chini Mills surged 5 per cent to Rs 183 in the intra-day trade, to quote at its highest level since May 2006. The stock had hit an all-time high of Rs 205 on April 2006. In the past one month, it has outperformed the market by zooming 24 per cent, as compared