Sugar shares in focus; Balrampur Chini, Dhampur Sugar surge over 6%

Indian sugar production estimates for the 2019-20 season are unlikely to be revised upwards by much from 26 million tonnes, when the ISMA meets to review figures towards February-end, a report said

Shares of sugar companies were in focus in Wednesday's session and rallied by up to 8 per cent on the BSE on expectation of no significant upward revision in sugar production.

Balrampur Chini Mills, Avadh Sugar & Energy, Dhampur Sugar Mills, Dalmia Bharat Sugar and Industries, Uttam Sugar Mills and Dwarikesh Sugar Industries were up 5 per cent to 8 per cent in intra-day trade today. In comparison, the S&P BSE Sensex was up 0.8 per cent at 41,540 points at 12:24 pm.

In the past four weeks, most of the sugar stocks have underperformed the market by