 "Sugar shares hit 52-week low")
Shares of most of the sugar companies are trading at their 52-week lows after the sweetener prices fallen to five year low following ample stocks on persistent supplies from mills amidst weak demand.
Dhampur Sugar Mills (5% at Rs 35.50), Dwarikesh Sugar Industries (5% 21.10), Uttam Sugars (5% at Rs 12.30), Shree Renuka Sugars (4.5% at Rs 12.75), Sakthi Sugars (4% at Rs 13.50), Bajaj Hindustan (3% at Rs 15.25) and Thiru Arooran Sugars (2% at Rs 26.50) have fallen between 2%-5% and hit their respective 52-week low price on the Bombay Stock Exchange (BSE) during intra-day trade so far.
Sugar prices dropped by 3.42% to Rs 2,400 per quintal in futures trading on Thursday as speculators reduced their positions, driven by huge stocks at spot markets on higher supplies from mills, the PTI report suggests. CLICK HERE TO READ FULL REPORT.
Dhampur Sugar Mills (5% at Rs 35.50), Dwarikesh Sugar Industries (5% 21.10), Uttam Sugars (5% at Rs 12.30), Shree Renuka Sugars (4.5% at Rs 12.75), Sakthi Sugars (4% at Rs 13.50), Bajaj Hindustan (3% at Rs 15.25) and Thiru Arooran Sugars (2% at Rs 26.50) have fallen between 2%-5% and hit their respective 52-week low price on the Bombay Stock Exchange (BSE) during intra-day trade so far.
Sugar prices dropped by 3.42% to Rs 2,400 per quintal in futures trading on Thursday as speculators reduced their positions, driven by huge stocks at spot markets on higher supplies from mills, the PTI report suggests. CLICK HERE TO READ FULL REPORT.