Shares of sugar companies were back into action with most of the stocks trading higher in the range of 5% to 12% on BSE in an otherwise weak market.
Dhampur Sugar Mills, Parrys Sugar, Dwarikesh Sugar Industries, Kesar Enterprises, Oudh Sugar Mills, Upper Ganges Sugar, Mawana Sugars, Dalmia Bharat Sugar and Industries and Ugar Sugar Works rallied up to 11% on the BSE in the afternoon trade. In comparison, the S&P BSE Sensex slipped 0.39% to 28,725.
“Sugar production fell by 19% to 16.24 million tonnes during the first five months of the 2016-17 marketing year ending September on lower cane supply in drought-hit states like Maharashtra and Karnataka,” the PTI report suggests. CLICK HERE TO READ FULL REPORT
"As on February 28, 2017, 257 sugar mills are continuing their crushing operations, whereas in 2015-16 sugar season, 390 mills were in operation on the same date," Indian Sugar Mills Association said in a statement.
ISMA attributed the fall in production to drought in southern and western parts of India during the last two years, impacting sugarcane output and productivity in these regions.
Domestic sugar prices are likely to remain firm in the near term on account of the expectations of a decline in production and deficit situation in the domestic and global markets, rating agency ICRA said.
ICRA expects the domestic sugar prices to remain firm in the near term, given the deficit situation in the domestic and international markets. This, coupled with moderate cane price increase seen for the current sugar year across most states, augurs well for profitability in the near-term, ICRA said. CLICK HERE TO READ FULL REPORT
Dhampur Sugar Mills, Parrys Sugar, Dwarikesh Sugar Industries, Kesar Enterprises, Oudh Sugar Mills, Upper Ganges Sugar, Mawana Sugars, Dalmia Bharat Sugar and Industries and Ugar Sugar Works rallied up to 11% on the BSE in the afternoon trade. In comparison, the S&P BSE Sensex slipped 0.39% to 28,725.
“Sugar production fell by 19% to 16.24 million tonnes during the first five months of the 2016-17 marketing year ending September on lower cane supply in drought-hit states like Maharashtra and Karnataka,” the PTI report suggests. CLICK HERE TO READ FULL REPORT
"As on February 28, 2017, 257 sugar mills are continuing their crushing operations, whereas in 2015-16 sugar season, 390 mills were in operation on the same date," Indian Sugar Mills Association said in a statement.
ISMA attributed the fall in production to drought in southern and western parts of India during the last two years, impacting sugarcane output and productivity in these regions.
Domestic sugar prices are likely to remain firm in the near term on account of the expectations of a decline in production and deficit situation in the domestic and global markets, rating agency ICRA said.
ICRA expects the domestic sugar prices to remain firm in the near term, given the deficit situation in the domestic and international markets. This, coupled with moderate cane price increase seen for the current sugar year across most states, augurs well for profitability in the near-term, ICRA said. CLICK HERE TO READ FULL REPORT
| COMPANY | LATEST | PREV CLOSE | GAIN(%) |
| DHAMPUR SUGAR | 207.10 | 186.15 | 11.3 |
| KESAR ENTERPRISE | 59.55 | 54.10 | 10.1 |
| KM SUGAR MILLS | 28.80 | 26.20 | 9.9 |
| OUDH SUGAR MILLS | 149.40 | 136.35 | 9.6 |
| PARRYS SUGAR | 62.90 | 58.00 | 8.5 |
| DALMIA BHARAT | 181.30 | 167.30 | 8.4 |
| DWARIKESH SUGAR | 429.50 | 397.75 | 8.0 |
| DHAMPUR.SPL.SUG. | 19.20 | 17.80 | 7.9 |
| RANA SUGARS | 10.64 | 9.90 | 7.5 |
| UPPER GANG. SUG. | 371.20 | 346.50 | 7.1 |
| MAWANA SUGARS | 81.40 | 76.30 | 6.7 |
| UGAR SUGAR WORKS | 36.30 | 34.10 | 6.5 |
| SIR SHADI LAL | 85.05 | 80.10 | 6.2 |
| TRIVEN.ENGG.IND. | 74.00 | 69.90 | 5.9 |
| EMPEE SUGARS | 6.50 | 6.14 | 5.9 |
| GAYATRI SUGARS | 9.53 | 9.03 | 5.5 |
| DHARANI SUGARS | 33.90 | 32.15 | 5.4 |
| SAKTHI SUGARS | 37.60 | 35.80 | 5.0 |
| UTTAM SUG.MILLS | 95.50 | 91.05 | 4.9 |
| RAJSHREE SUGARS | 64.45 | 61.50 | 4.8 |
