Stocks ride high on soaring sugar prices

INVESTING INSIGHT

The stocks of companies engaged in sugar soared in the last three months on the Bombay Stock Exchange (BSE) riding on the back of high sugar prices.

The spot price of sugar witnessed a consistent rise over the last three months. The S30 sugar was priced at Rs 1308.50 per quintal as on January 23, and closed at Rs 1550 today. The price of the M30 sugar closed at Rs 1582.50 today from Rs 1363.50 in January.

The share price of Upper Ganges Sugar rose from Rs 20.75 on January 23, to today's close of Rs 91.05, up 338.80 per cent on the BSE. During the same period the stock price of Oudh Sugar Mills increased from Rs 18 to Rs 58.25 up 223.61 per cent and Thiru Aroonran Sugars gained from Rs 28 to Rs 82.70, up 195 per cent.

The stocks of Ponni Sugars (Orissa) rose from Rs 1.70 to Rs 3.76, up 121.18 per cent and Riga Sugar moved from Rs 8.91 to Rs 19.30, up 116.61 per cent. Ugar Sugar rose from Rs 47.7 to Rs 101.05, up 111.62 per cent, and Kesar Enterprises increased as well from Rs 14.90 to Rs 31.15, a jump of 109.06 per cent.

The share price of Simbhaoli Sugar rose from Rs 13.25 to 26.30, up 98.49 per cent, and Dhamapur Sugar rose from Rs 21 to Rs 41.50, a rise of 97.62 per cent. Dharani Sugars witnessed a rise from Rs 5.22 to Rs 9.89, up 89.46 per cent.

Ponni Sugars (E) rose from Rs 10.30 to Rs 19.34 up by 87.77 per cent.

The stocks of Bajaj Hind rose from Rs 307.85 to Rs 588.85, up 81.53 per cent and Balrampur Chini moved from Rs 240.15 to Rs 423.50, up 76.35 per cent. Picadilly Sugar & Allied rose from Rs 2.54 to Rs 4.38, up 72.44 per cent, and KCP Sugar Ind increased as well from Rs 30.55 to Rs 51.95, a jump of 70.05 per cent.

Shree Vaani Sugars & Industries appreciated from Rs 2.25 to Rs 3.78, up 68 per cent and Picadilly Agro Industries moved up from Rs 1.77 to Rs 2.95, up 66.67 per cent. Picadilly Sugar & Allied rose from Rs 2.54 to Rs 4.38, up 72.44 per cent, and Pratappur Sugar Ind increased as well from Rs 8.85 to Rs 14.21, a jump of 60.56 per cent.

Rajshree Sugar and Industries rose from Rs 21.60 to Rs 33.95, up 57.18 per cent and Picadilly Agro Industries moved up from Rs 1.77 to Rs 2.95, up 66.67 per cent. Nahar Sugar rose from Rs 10.19 to Rs 13.48, up 32.38 per cent, and Bannari Amman Sugars increased from Rs 291.14 to Rs 380.80, a jump of 30.80 per cent.

Rana Sugar increased from Rs 10.93 to Rs 13.91, up 27.26 per cent and Empee Sugars moved up from Rs 3.98 to Rs 4.50, up 12.07 per cent. Sakthi Sugars rose from Rs 33.79 to Rs 38, up 12.46 per cent, and Ravalgaon Sugar increased from Rs 2140.60 to Rs 2475, a jump of 10.46 per cent.