Sugar stocks in heavy demand; surge up to 9.5%

Sugar stocks in heavy demand; surge up to 9.5%

Sugar stocks were in limelight today, surging up to 9.5 per cent mainly on speculative buying, in-line with a bullish broader market.

Shares of Dwarikesh Sugar Industries zoomed 9.53 per cent, Bajaj Hindusthan Sugar 6.02 per cent, Uttam Sugar Mills 5.53 per cent, Triveni Engineering & Industries 5.37 per cent and Ugar Sugar Works 5.26 per cent on BSE.

Among others, Balrampur Chini Mills gained 5.20 per cent, Dalmia Bharat Sugar and Industries 5.12 per cent, Mawana Sugars 4.89 per cent, Dhampur Sugar Mills 2.73 per cent and Shree Renuka Sugars 0.64 per cent.

These stocks caught buyers’ attention amid reports that the government may provide financial support to cane farmers for produce sold to sugar mills.

In the broader market the BSE key index surged 91.71 points to close at 33,880.25.

Source: Business Standard – Published on: 10-04-2018