Sugar stocks on a roll on improved outlook; Shree Renuka zooms 127% in June

Shares of sugar companies were on a roll on Monday, with most of the stock trading at their multi-year highs on the back of up to 20 per cent rally on the bourses, on improved outlook. Shares of the companies have been on an uptrend ever since the government mandated 20 per cent ethanol blending in fuel by 2025 against the current blending of  7.79 per cent. 

Considering this, sugar companies are seeing a huge, untapped demand for ethanol for the blending program of the, which can be of  benefit to the sector in the future.

Ponni Sugars