Triveni Engineering & Industries surged 8 per cent to ₹401, while Balrampur Chini Mills soared 7 per cent to ₹512.10 on the BSE in Wednesday's intra-day deals.
Among others Dr. Reddy's, Apollo Hospitals, M&M Finance, Muthoot Finance, Tata Power, Balrampur Chini and Sammaan Capital soared up to 20% from recent lows to cross the long-term average, shows data.
The rally in sugar stocks followed a sharp spike in crude prices, with brent rising above $115 per barrel amid escalating tensions involving the US, Israel, and Iran
With a successive increase in cane price across India, but without any proportionate increase in ethanol price, sugar-based ethanol has seen a significant erosion in margins, say analysts.
The sugar-ethanol sector, Elara said, is once again losing luster, adding that without policy interventions, the industry may be staring at another crisis
In the past one month, the BSE 500 index has underperformed the market by falling nearly 1 per cent, as compared to 1.3 per cent rise in the BSE Sensex.
The rally in sugar stocks comes after the government cleared the exports of 1.5 million tonnes of sugar for the 2025-26 sugar season