Sugar shares gain; Thiru Arooran, Kesar Enterprises, Uttam Sugar up 8%

Mawana Sugars, Triveni Engineering Industries, Shree Renuka Sugar and Simbhaoli Sugars were up more than 5% on the BSE.

Shares of sugar companies were in focus and rallied up to 8% on the bourses after Indian Sugar Mills Association (ISMA) said the buying interest is improving, while the stock holding limit on traders has also been removed, which should boost sugar demand and sales.

Thiru Arooran Sugars, Kesar Enterprises, Mawana Sugars, Uttam Sugar Mills, Triveni Engineering Industries, Shree Renuka Sugar and Simbhaoli Sugars were up more than 5% on the BSE. The S&P BSE Sensex was up 0.34% or 111 points at 33,713 at 12:36 PM;

India's sugar production rose 30% to 69.4 lakh tonne during the first two and half months of the current marketing year on higher cane output, according to industry body ISMA.

Mills have produced 69.40 lakh tonne of sugar till December 15 of the 2017-18 marketing year as compared to 53.46 lakh tonne in the corresponding period of the previous year, ISMA said in a statement.

The industry body estimates a normal sugar production of 251 lakh tons in 2017-18 sugar season (SS), as compared to a very low production of only 203 lakh tons last year. Sugar marketing year runs from October to September.

With buying interest improving and also the stock holding limit on traders being removed, the market is expected to increase their buying, which can have a positive impact on the sales and market sentiments, which in turn is already having a stabilizing effect, it added.

COMPANY	LATEST	PREV CLOSE	GAIN(%)
MAWANA SUGARS	86.40	79.75	8.3
KESAR ENTERPRISE	69.30	64.25	7.9
THIRU AROOR. SU.	62.50	58.00	7.8
SH.RENUKA SUGAR	17.15	16.00	7.2
UTTAM SUG.MILLS	154.45	144.55	6.9
SIMBHAOLI SUGAR	25.00	23.55	6.2
TRIVEN.ENGG.IND.	79.15	74.80	5.8
UGAR SUGAR WORKS	29.70	28.10	5.7
SAKTHI SUGARS	25.00	23.70	5.5
MAGADH SUGAR	193.00	183.70	5.1
BALRAMPUR CHINI	148.80	141.75	5.0
INDIAN SUCROSE	58.45	55.70	4.9
DHAMPUR SUGAR	252.90	241.20	4.9
RAJSHREE SUGARS	55.80	53.30	4.7
KCP SUGAR &INDS.	32.05	30.70	4.4
DHARANI SUGARS	30.20	28.95	4.3
BAJAJ HINDUSTHAN	14.60	14.00	4.3
BANNARI AMM.SUG.	2248.45	2156.05	4.3
RANA SUGARS	6.65	6.38	4.2
KM SUGAR MILLS	20.00	19.25	3.9