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Balrampur Chini, Kothari Sugar: Is it the right time to buy sugar stocks?

The Union Cabinet recently approved a subsidy of Rs 6,268 crore for the export of 6 million tonnes of sugar. The development triggered a rally in select counters

Balrampur Chini, Kothari Sugar: Is it the time right to buy sugar stocks?

The Union Cabinet recently approved a subsidy of Rs 6,268 crore for the export of 6 million tonnes of sugar. The development triggered a rally in select counters with Dharani Sugar and Chemical hitting the upper circuit of 20 per cent on Thursday. The opening hour witnessed selling pressure in most stocks, which closed weak (negative candle on the charts).   On Friday, Dharani Sugar clocked another 20 per cent up move, hitting Rs 9.60 levels at the bourses. Other sugar stocks such as Bajaj Hindusthan Sugar, Shree Renuka Sugars, Ponni Sugars (Erode), Bannari Amman Sugars have gained ...