Most of the frontline sugar counters which have seen an uptrend in last couple of months on various sector boosting measures by the government.
The Balrampur Chini Mills stock has risen from Rs 103.10 on March 3, to close today at Rs 139.50 on the Bombay Stock Exchange (BSE), off its recent high of Rs 146.80.
Bannari Amman Sugars rose from Rs 116.75 to Rs 122.50 but off from a high of Rs 127.45, while Dhampur Sugar has moved from Rs 9.65 to Rs 15.46 but off its recent high of Rs 17.13.
Shares of Bajaj Hindustan moved up from Rs 72.80 to Rs 120.50 , Ugar Sugar gained from Rs 46.50 to Rs 54, Kesar Enterprise increased from Rs 5.50 toRs 5.52, Rajshree Sugar moved up from Rs 10.80 to Rs 15.70 and Oudh Sugar gained from Rs 8.5 to Rs 12.65 on the BSE during the same period.
Shares of Simbhaoli Sugar increased from Rs 9.00 to Rs 10, Sakthi Sugar moved up from Rs 6.70 to Rs 9.60 and Ugar Sugar also moved up from Rs 46.50 to Rs 54 during the same period on the BSE.
The stocks of sugar companies slid from their recent highs on reports that certain mills have been banned from offloading sugar in the free market during the month of June.
Though most of the entities who have not been allotted monthly free sale release sugar quota are in the co-operative sector, the corporate sector has also started feeling the heat.
