Shares of eleven sugar companies were up by 0.33% to 9.91%, extending Monday's rise on a strong buying demand.
Shree Renuka Sugars (up 9.91%), KCP Sugar and Industries Corporation (up 6.54%), Balrampur Chini Mills (up 5%), Dhampur Sugar (up 4.95%), Triveni Engineering & Industries (up 4.88%), Dwarikesh Sugar (up 4.76%), Rana Sugars (up 4.76%), Bajaj Hindusthan Sugar (up 4.63%), Sakthi Sugars (up 3.86%), E.I.D. Parry (India) (up 1.94%) and DCM Shriram Industries (up 0.33%) edged higher.
On Monday, the sugar stocks surged by between 0.21% to 20% after the media reported that sugar mills have ramped up production of hand sanitisers to cater its rising demand following the coronavirus outbreak. This could boost revenue of sugar companies.
Meanwhile, the S&P BSE Sensex rose 705.62 points or 2.48% at 29,145.94.
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