Sugar stocks rally on strong outlook; Triveni, Balrampur hit new highs

According to CRISIL, sugar mills are expected to see both revenue and profitability improve in the 2022 season (SS 2022; October 2021 to September 2022).

Shares of sugar companies were in demand in Tuesday’s intra-day trade and had rallied up to 10 per cent amid heavy volumes on strong outlook. Triveni Engineering & Industries, soared 9 per cent to Rs 244, and crossed its earlier high of Rs 235 hit on December 28, 2021 on the BSE. Similarly, Balrampur Chini Mills surged 7 per cent to Rs 399, and surpassed its previous high of Rs 398.25 touched on October 18, 2021.

Dhampur Sugar Mills, Dalmia Bharat Sugar and Industries, Avadh Sugar, Dwarikesh Sugar, EID Parry (India), Mawana Sugars and Uttam Sugar Mills were up