Sugar shares in demand; Balrampur, Dalmia Bharat rally over 30% in a month

Balrampur Chini Mills hit a new high of Rs 273 on Thursday, rallying 9 per cent on the BSE in intra-day trade

Shares of sugar companies continued their upward march on Thursday. In the past one month, Balrampur Chini Mills, Dalmia Bharat Sugar and Triveni Engineering have moved up in the range of 30 per cent to 43 per cent on expectation of improved earnings. In comparison, the S&P BSE Sensex was down nearly 4 per cent during the same period.

With the government’s aggressive stance on increasing ethanol blending with petrol to levels of 20 per cent by 2025, the industry is undertaking huge capacity expansion programmes to meet the ethanol requirement of 10 billion litre by 2025, analysts say.