Sugar stocks gain led by Balrampur Chini, Bajaj Hindusthan Sugar

Shares of Balrampur Chini Mills hitting a 13-year high on Friday on the BSE, up 4% on Friday’s trade.

Dec 27, 2019 02:12 IST India Infoline News Service

Shares of sugar companies gained for the second consecutive session in the afternoon trade on Friday. Lower cane crushing and subsequent decline in sugar production have led to sugar stocks rally in the past few sessions.

Shares of Balrampur Chini Mills hitting a 13-year high on Friday on the BSE, up 4% on Friday’s trade.

Indian Sugar Mills Association (ISMA) said in its latest press release that, “India sugar production is down 35 per cent year on year (YoY) at 4.58 mn tonne as on 15 December. This drop-in production is primarily due to a sharp decline in sugar production in Maharashtra and Karnataka.”

Stock view:
Balrampur Chini Mills Ltd is currently trading at Rs182.15, up by Rs7 or 4% from its previous closing of Rs175.15 on the BSE.

Shree Renuka Sugars Ltd is currently trading at Rs8.09, up by Rs0.16 or 2.02% from its previous closing of Rs7.93 on the BSE.

Bajaj Hindusthan Sugar Ltd is currently trading at Rs6.55, up by Rs0.24 or 3.8% from its previous closing of Rs6.31 on the BSE.

Uttam Sugar Mills Ltd is currently trading at Rs104.85, up by Rs0.9 or 0.87% from its previous closing of Rs103.95 on the BSE.

Dwarikesh Sugar Industries Ltd is currently trading at Rs30.55, up by Rs1.15 or 3.91% from its previous closing of Rs29.40 on the BSE.

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