Sugar stocks in focus; Balrampur Chini, Avadh Sugar up over 5%

Since a significant quantity of sugarcane juice and B-molasses will be diverted into ethanol production, a proportionate quantity of sugar production will get reduced, ISMA said

Shares of sugar companies rallied by up to 7 per cent on the BSE on Tuesday after the industry body, ISMA, raised its sugar production estimate to 31.0 million tonnes (MT) from earlier 30.5 MT in the 2020-21 marketing season starting this month. It has also increased its sugar sacrifice estimate from 1.5 MT to 2.0 MT.

Among the individual stocks, Balrampur Chini Mills, Avadh Sugar & Energy and Dhampur Sugar Mills were up 5 per cent to 7 per cent on the BSE. EID Parry and Dwarikesh Sugar Industries were up in the range of 2 per cent