It was a sea of green for the sugar stocks on Monday, mirroring the Benchmark indices- Sensex and Nifty, which ended the day with gains. Sensex ended 941.12 points higher at 74,671.28, whereas Nifty concluded 223.45 points up at 22,643.40.
The top gainers were Magadh Sugar at 655.45 (+10.55), Bajaj Hindusthan at 36.3 (+6.45%), DCM Shriram Inds. at 202.85 (+ 6.26) and Rajshree Sugars at 68.45 (+5.15%).
Other sugar stocks that closed trade in green were – Dalmia Bharat, Avadh Sugar, Uttam Sugar Mills, Dhampur Bio, Balrampur Chini, Vishwaraj Sugar, Simbhaoli Sugar, Sakthi Sugars, Triveni Engg Ind, Ponni Sugar Erode, Shree Renuka Sugar, Kothari Sugars, Ugar Sugar Works, Dollex Agrotech, Mawana Sugars, Rana Sugars, M.V.K. Agro, Dwarikesh Sugar, Dhampur Sugar and Zuari Industries.
The top losers were KCP Sugar & Inds., Bannari Amman Sugar, EID Parry, KM Sugar Mills and Davangere Sugar.
Hemant Shah, Co-founder and Deputy CEO of AgriMandi. Live and Founder of Ebuy Sugar said “The market buzz regarding a likely revision of sugar MSP is adding to the overall positive sentiment. The industry has been requesting the Government for quite some time now to increase the sugar MSP”.
The apex sugar body representing the cooperative mills- NFCSF has written a letter to the member mills requesting submission of the actual cost of production of sugar and ethanol, which will be computed and sent to the Government for upward revision of sugar MSP.
