Sugar stocks rallied up to 11 per cent on the BSE in Friday's intra-day trade on strong outlook and foreign institutional investors (FIIs) interest.
The company's grain-based distillery of 60 KLPD is expected to commence its operations in Q4FY22, which is likely to strengthen its operational profile and improve revenue diversification.
ICICI Securities believe domestic as well as global sugar prices would remain firm at least for next one year
Balarmpur Chini, Triveni Engineering, Shree Renuka, Dhampur Sugar, Dalmia Sugar and Avadh Sugar gained in the range of 4 per cent to 8 per cent in Tuesday's intraday trade
India's sugar export rose 20 per cent to an all-time high of 7.1 million tonne in the 2020-21 in the marketing year ended ended September 2021 on the back of better demand and financial assistance fro
Any further development regards to the increase in sugar price can push the stocks higher in a short span of time
Triveni Engineering and Industries Ltd on Saturday posted a 10.20 per cent jump in its consolidated net profit at Rs 92.30 crore in the first quarter of 2021-22. The company had posted a net profit of Rs 83.75 crore in the same quarter previous fiscal, according to a BSE filing. Net income declined to Rs 1,115.09 crore in the April-June quarter of 2021-22 from Rs 1,228.22 crore in the same quarter of the previous fiscal. Expenses remained lower at Rs 997.26 crore as against Rs 1,103.70 crore in the said period. The company said the decline in net turnover in the first quarter was mainly due to lower sugar dispatches by 26 per cent. But distillery and power transmission businesses have achieved higher turnover despite COVID-19 related challenges. Commenting on the performance, the company's Chairman and Managing Director Dhuv M Sawhney said, "The overall performance of the company during the quarter has been satisfactory, especially in view of challenges posed by the second wave of
Most brokerages have a positive stance on India's sugar industry as it appears well poised to benefit from global and domestic factors
Export subsidy announcement a positive but high valuation could restrict gains
Triveni Turbines on Monday reported over 51 per cent decline in its consolidated net profit to Rs 24.39 crore for the September quarter compared to the year-ago period mainly due to lower revenues.
The Buyback will be on a proportionate basis from the shareholders of the Company, through the 'Tender Offer' route
The board has approved a buyback of 10 million shares at a price of Rs 100 per share via the tender offer route
The stock rallied 10% to Rs 64.70 on the BSE in intra-day trade after the company reported profit of Rs 68 crore in Q2FY17 against Rs 23 crore in Q2FY16.