Sugar stocks up on buzz of import duty hike, lower output

Shree Renuka tops list to close 20% higher; Bajaj Hindusthan, Simbhaoli Sugars are other big gainers

Sugar stocks moved up by up to 20 per cent on Friday on expectations of an increase in customs duty to curb cheap imports and estimates of lower production than previous projections.

The share price of Shree Renuka Sugars Ltd (SRSL) jumped the highest, rising 20 per cent to close at Rs 15.66. Stocks of Bajaj Hindusthan Sugar and Simbhaoli Sugars surged by 9.29 per cent and 7.34 per cent, to close on Friday at Rs 16.36 and Rs 31.45 apiece respectively. However, Balrampur Chini, Triveni Engineering & Industries, EID Parry and Dwarikesh Sugar Industries attracted little investor interest, with their