Almost all sugarcane processing companies significantly outperformed the broader market, with Dalmia Bharat Sugar & Industries emerging as the top gainer, up 12 per cent at ₹386.85
At 10:57 AM, individually, among others, Dalmia Bharat Sugar and Industries shares were trading over 3 per cent higher
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.