Sugar stocks jump on hope of price rise

An Analyst said that big price rise is unlikely this year but a rise cannot be ruled out

Sugar stocks gained by up to eight per cent on Friday, in anticipation of a further increase in price in the coming months, following a forecast of lower production and the government’s reluctance on import.

The share price of Parrys Sugar jumped by nearly eight per cent to close on Friday at Rs66.95, followed by a 6.8 per cent increase in the stock of Oudh Sugar Mills to Rs140.30. The stocks of Dwarikesh Sugar, Dhampur Sugar and Balrampur Chini rose by 4.6 per cent, 4.3 per cent and four per cent, respectively.

However, those of Bajaj Hindusthan and Shree Renuka