 "A vendor arranges a price tag over a sack filled with sugar at a wholesale vegetable market in Ahmedabad September 11, 2013. REUTERS")
Shares of sugar manufacturers were trading higher by up to 20% on the bourses in intra-day trade on expectation of lower production for sugar season 2016-17.
Upper Ganges Sugar & Industries (up 19% at Rs 108), Dhampur Sugar Mills (8% at Rs 89), Balrampur Chini Mills (5% at Rs 105) and Bannari Amman Sugars (4% at Rs 1,360) touching their respective 52-week highs in intra-day trade on the BSE.
Simbhaoli Sugars (20% at Rs 38.70), Oudh Sugar Mills (10% at Rs 65), Uttam Sugar Mills (10% at Rs 32.25), Dharani Sugars & Chemicals (5% at Rs 25.47), Mawana Sugars (5% at Rs 24.30), Dwarikesh Sugar Industries (5% at Rs 201) and Parrys Sugar Industries (5% at Rs 33.85) are locked in the upper circuit.
The management of Balrampur Chini expects India sugar output for 2016-17 to be lower by 5-7% for the sugar season 2016-1 is subject to weather conditions.
In relation to the overall industry, the management expects the sugar production to be around 25.5 to 25.7 million tonnes (MT) for the sugar season 2015-16, Balrampur Chini Mills said in an investors/analysts conference call.
The company expects sugar prices to be firm in 2016-17 considering the demand-supply scenario. It expects to sell above 80 million liters Ethanol in 2016-17 and sees realization at Rs 40 per liter plus Rs 5 per liter on account of duty waiver for 1 year.
Meanwhile, according to PTI reports, country's sugar production is estimated to decline by over 9% to 25.6 MT in the current marketing year ending September on account of lower sugarcane output.
Upper Ganges Sugar & Industries (up 19% at Rs 108), Dhampur Sugar Mills (8% at Rs 89), Balrampur Chini Mills (5% at Rs 105) and Bannari Amman Sugars (4% at Rs 1,360) touching their respective 52-week highs in intra-day trade on the BSE.
Simbhaoli Sugars (20% at Rs 38.70), Oudh Sugar Mills (10% at Rs 65), Uttam Sugar Mills (10% at Rs 32.25), Dharani Sugars & Chemicals (5% at Rs 25.47), Mawana Sugars (5% at Rs 24.30), Dwarikesh Sugar Industries (5% at Rs 201) and Parrys Sugar Industries (5% at Rs 33.85) are locked in the upper circuit.
The management of Balrampur Chini expects India sugar output for 2016-17 to be lower by 5-7% for the sugar season 2016-1 is subject to weather conditions.
In relation to the overall industry, the management expects the sugar production to be around 25.5 to 25.7 million tonnes (MT) for the sugar season 2015-16, Balrampur Chini Mills said in an investors/analysts conference call.
The company expects sugar prices to be firm in 2016-17 considering the demand-supply scenario. It expects to sell above 80 million liters Ethanol in 2016-17 and sees realization at Rs 40 per liter plus Rs 5 per liter on account of duty waiver for 1 year.
Meanwhile, according to PTI reports, country's sugar production is estimated to decline by over 9% to 25.6 MT in the current marketing year ending September on account of lower sugarcane output.
