 "9 sugar stocks zoom over 100% in 2016")
Shares of 9 sugar companies have more than doubled thus far in the calendar year 2016.
Hope of strengthening of their financial health further owing to higher sugar prices due to a fall in production, both in India and other major producing countries, resulted in the appreciation, reports suggest.
Upper Ganges Sugar & Industries, Mawana Sugars, Oudh Sugar Mills, Ugar Sugar Works, Dharani Sugars, Dwarikesh Sugar Industries, Uttam Sugar Mills, Thiru Arooran Sugars and Rajshree Sugars have rallied up to 350% so far in the current calendar year.
Total 34 sugar companies had posted an aggregate net profit of Rs 1,408 crore for the second half (October-March) of financial year 2016 (H2FY16), against a combined net loss of Rs 1,700 crore in the first half (April-September) or H1FY16. These companies had loss of Rs 1,268 crore in H2FY15 & Rs 979 crore in H1FY15.
According to Business Standard reports, industry officials fear that if yields (finished sugar output from cane) come lower than expected, production might fall further. This would help prices stay at elevated levels, which means companies will first generate a good amount of profit and cash to pay arrears and then repay debts. CLICK HERE TO READ THE FULL REPORT.
Hope of strengthening of their financial health further owing to higher sugar prices due to a fall in production, both in India and other major producing countries, resulted in the appreciation, reports suggest.
Upper Ganges Sugar & Industries, Mawana Sugars, Oudh Sugar Mills, Ugar Sugar Works, Dharani Sugars, Dwarikesh Sugar Industries, Uttam Sugar Mills, Thiru Arooran Sugars and Rajshree Sugars have rallied up to 350% so far in the current calendar year.
Total 34 sugar companies had posted an aggregate net profit of Rs 1,408 crore for the second half (October-March) of financial year 2016 (H2FY16), against a combined net loss of Rs 1,700 crore in the first half (April-September) or H1FY16. These companies had loss of Rs 1,268 crore in H2FY15 & Rs 979 crore in H1FY15.
According to Business Standard reports, industry officials fear that if yields (finished sugar output from cane) come lower than expected, production might fall further. This would help prices stay at elevated levels, which means companies will first generate a good amount of profit and cash to pay arrears and then repay debts. CLICK HERE TO READ THE FULL REPORT.
| Name | 31/12/2015 | 31/05/2016 | LTP | % chg* | % chg# |
| Upper Ganges | 68.20 | 166.30 | 302.25 | 81.75 | 343.18 |
| Oudh Sugar Mills | 34.95 | 79.55 | 122.75 | 54.31 | 251.22 |
| Mawana Sugars | 17.50 | 40.30 | 61.45 | 52.48 | 251.14 |
| Ugar Sugar Works | 12.99 | 28.00 | 44.10 | 57.50 | 239.49 |
| Dharani Sugars | 21.40 | 33.80 | 61.40 | 81.66 | 186.92 |
| Uttam Sugar | 28.25 | 49.30 | 74.80 | 51.72 | 164.78 |
| Dwarikesh Sugar | 98.85 | 193.15 | 256.30 | 32.69 | 159.28 |
| Thiru Arooran | 41.90 | 57.65 | 97.90 | 69.82 | 133.65 |
| Rajshree Sugars | 29.25 | 47.70 | 61.30 | 28.51 | 109.57 |
| Bannari Amm.Sug. | 1025.00 | 1745.50 | 1944.70 | 11.41 | 89.73 |
| DCM Shriram Inds | 91.40 | 138.10 | 171.30 | 24.04 | 87.42 |
| Balrampur Chini | 70.05 | 108.25 | 123.80 | 14.36 | 76.73 |
| Dalmia Bharat | 62.50 | 91.80 | 109.75 | 19.55 | 75.60 |
| Kesar Enterprise | 27.10 | 33.45 | 46.50 | 39.01 | 71.59 |
| Dhampur Sugar | 65.55 | 91.45 | 110.00 | 20.28 | 67.81 |
| Parrys Sugar | 29.60 | 38.50 | 49.65 | 28.96 | 67.74 |
| Sensex | 26117.54 | 26667.96 | 26341.00 | -1.23 | 0.86 |
| LTP : Last traded price on BSE at 10:42 AM | |||||
| * Change over May 31, 2016; # change over December 31, 2015 | |||||