Balrampur Chini, Triveni, EID Parry at record high; stocks soar up to 20%

According to ICRA, sugar companies are expected to strengthen in FY2022 with expansion in operating profits in addition to sugar inventory reduction and hence curtailment of working capital debt.

Shares of sugar companies were rallied by up to 20 per cent on the BSE in Monday’s intra-day trade on expectation of strong earnings growth. Triveni Engineering and Industries (up 9 per cent at Rs 218.50), Balrampur Chini Mills (5 per cent at Rs 398.25) and EID Parry (India) (3 per cent at Rs 500) hit their respective record highs in the process.

Vishwaraj Sugar Industries zoomed 20 per cent to Rs 191.10 in intra-day trade, too hit record high today, surpassing its previous high of Rs 172 touched on June 14, 2021. Shree Renuka Sugars, Dhampur Sugar Mills