| Simbhaoli Sugar was the biggest gainer, rising around 11.23 per cent to Rs 83.20, followed by Balrampur Chini, which rose 8.77 per cent to Rs 109.15. Bajaj Hindustan surged 7.29 per cent to Rs 340.20, a gain of Rs 23.40. |
| Dhampur Sugar was up 7.28 per cent to Rs 125.25, Mawana Sugars rose 5.36 per cent to Rs 78.60, Shree Renuka to Rs 628.90 (4.6 per cent ) and Dwarikesh Sugar ended the day at Rs 117.65, up 3.89 per cent. |
| "Today was the last day for the submission of tenders. All these sugar companies have submitted their bids. Therefore, their stocks fared well even though the market was rangebound," said investment analyst S P Tulsiyan. |
| "The submission of bids has given a positive signal to the market. It is now certain that the ethanol blending programme would begin from November and would add to the profitability of sugar industry", said Sanjay Tapriya, director (finance) of Simbhaoli Sugar. |
| The ethanol-blending programme is due to start from November this year in all the states, barring the north-east. At 5 per cent blending, the country would require about 587 million litres of ethanol. The sugar industry has an installed ethanol capacity of about 1300 million litres. The government plans to increase the blending to 10 per cent by next October. |
| Earlier, international sugar prices in the London market jumped above $400 a tonne to $416 in the wake of expectations of increase in demand from importers. "At this rate sugar exports will be attractive and more exports will take place" said Rajendra Shah, a Mumbai-based sugar exporter. Ex-mill sugar prices are ruling around Rs 1550, without taking in to account excise [Maharashtra mills]. |
| Shah does not expect local prices to go up, but if the current global prices stay bullish then there is a good scope of exporting 18 to 20 lakh tonne sugars. |
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