Sugar scrips up on debt recast hopes

Other gainers include Simbhaoli Sugars (25%), Shree Renuka (12.2%) and Bajaj Hindusthan (11.7%)

Sugar stocks surged by up to 35 per cent during the last two trading sessions on hopes of an increase in mills' profitability, following indications of a debt recast by the Ministry of Finance.

The share price of Uttam Sugar jumped by 34.88 per cent to close on Monday at Rs 65.55, that of Simbhaoli Sugars shot up by 25 per cent to Rs 33.75. Companies like Shree Renuka Sugars and Bajaj Hindusthan Sugar also reported 12.21 per cent and 11.70 per cent surge in their stock prices to close on Monday at Rs 14.70 and Rs 14.80 respectively.

The rally