Sugar stocks extend fall on concerns of record output Shares of sugar companies continue to trade lower for the fifth straight session, falling by up to 30%, on concerns of higher production which may pull down the prices of raw sugar.   Balrampur Chini Mills, Avadh Sugar & Energy and Dalmia Bharat Sugar and Industries were down 10% on the BSE. These stocks tanked in the range of 28% to 30% in past five trading sessions. Besides these three, as many as 20 sugar stocks were trading at their multi-months lows. READ MORE IPO WATCH: Bandhan Bank (Image source: Axis Capital report) Kotak Securities on IT sector That CY2018 will be better than CY2017 is generally accepted and shows up in IT sector re-rating. The magnitude of acceleration will determine stock returns from here; 2-3% higher growth in FY2019 is already baked into the stock prices. Path to higher acceleration of 4-5% can lead to further upsides; however, visibility on the same is not clear. It is easier to predict the direction of growth than the magnitude of acceleration in our view. We prefer Infosys and Tech Mahindra as expectations embedded in the current valuations are low NEWS IMPACT Bhushan Steel surges 11% as Tata Steel emerges as the top bidder for debt-laden company Bhushan Steel was trading over 11% higher on BSE after Tata Steel, one of the largest steel producers in the country, received formal communication from Resolution Professional of Bhushan Steel identifying it as the highest evaluated compliant resolution applicant to acquire the controlling stake in the latter. READ MORE Bhushan Steel stock quote:   Market Check   S&P BSE Sensex 33,252.25 0.66%   Nifty 50 10,218.20 0.63%   S&P BSE 200 4,458.04 0.50%   Nifty 500 8,977.25 0.45%   S&P BSE Mid-Cap 15,998.20 0.27%   S&P BSE Small-Cap 17,299.02 0.17% Nifty PSU Bank index rises over 1.5%