Sugar stocks become sweeter
DSIJ Intelligence / 24 Aug 2017
Post the news that the food minister has asked for a hike of Rs 2 per litre of ethanol sold to OMCs, the sugar stocks went up during Thursday’s intraday trade on the BSE.
Post the news that the food minister has asked for a hike of Rs 2 per litre of ethanol sold to OMCs, the sugar stocks went up during Thursday’s intraday trade on the BSE. In India, ethanol, a byproduct of sugar manufacturing, is obtained by processing molasses in its original form as rectified spirit (RS), with around 95% purity. On further processing, ethanol is obtained for direct blending with petrol.
Thiru Arooran Sugars was the top gainer among the sugar companies and the stock was trading at Rs 54.55 per share, up by Rs 2.05 or 3.90% as at 1135 hours, on Thursday, on the BSE. Among other key players, Bajaj Hindusthan Sugar was up 3.45% at Rs 15 and the stock witnessed an increase in volume by more than 1.03 times; Sakthi Sugars was up 1.32% at Rs 26.80; Dwarikesh Sugar Industries was up 0.80% at Rs 62.85; Dhampur Sugar Mills was up 1.70% at Rs 260.30; Uttam Sugar Mills was up 1.57% at Rs 178.10; and Simbhaoli Sugars was up by 1.81% at Rs 31.