Business Standard

Sugar shares dip on profit booking

Oudh Sugar, Uttam Sugar, Kesar Enterprises, Upper Ganges, Dwarikesh Sugar and Simbhaoli Sugar down over 5% each.

Meet to discuss poor supply of ethanol

SI Reporter Mumbai
Shares of sugar producers have fallen by up to 10% in otherwise firm market on profit booking.

Oudh Sugar Mills (down 10% at Rs 73), Uttam Sugar Mills (8% at Rs 54), Kesar Enterprises (8% at Rs 39), Upper Ganges Sugar (7% at Rs 127), Dwarikesh Sugar (6% at Rs 181), Simbhaoli Sugar (6% at Rs 33), Dhampur Sugar (6% at Rs 87) and Rajshree Sugars (6% at Rs 51) were down more than 5% each on the BSE.

At 12:38 pm, the S&P BSE Sensex was up 0.46% or 116 points at 25,137.

Since February 29, post Budget most of the sugar stocks had rallied more than 50% on expectation of lower production for sugar season 2016-17.

According to Reuters report, India is likely to hold off at least until the start of the monsoon season before making any changes to sugar policy despite a jump in domestic prices that choked off exports.

Before taking any decisions on sugar policy, the government is expected to wait to see how the monsoon season develops. India's annual monsoon rains are likely to be above average, the country's only private weather forecaster said on Monday, snapping two straight years of drought that cut farm output and farmers' income, added report. CLICK HERE TO READ FULL REPORT.

Company 29/02/2016 11/4/206 % LTP % chg
Oudh Sugar Mills 37.3 80.5 115.7 72.8 -9.6
Kesar Enterprise 20.3 41.9 106.9 38.5 -8.2
Uttam Sug.Mills 21.2 58.6 176.2 54.2 -7.5
Upper Gang. Sug. 57.0 137.5 141.2 127.3 -7.4
Rajshree Sugars 23.0 54.0 134.8 50.5 -6.5
Dwarikesh Sugar 102.1 192.8 88.8 181.4 -5.9
Dhampur Sugar 56.0 92.1 64.4 86.9 -5.6
Sakthi Sugars 23.4 40.9 74.6 38.7 -5.4
Thiru Aroor. Su. 36.1 71.3 97.4 67.7 -5.0
Dalmia Bharat 60.8 100.8 65.8 95.9 -4.9
Dharani Sugars 14.7 34.0 131.7 32.3 -4.9
Mawana Sugars 18.0 30.9 71.7 29.4 -4.9
           
Sensex 23002.0 25022.0 8.8 25137.0 0.5
           
LTP : Last traded price on BSE in Rs at 12:38 PM.  
 

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First Published: Apr 12 2016 | 12:53 PM IST

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