These sugar stocks soared up to 95.2 per cent in one month!
Sugar stocks have been gaining momentum lately with the development on ethanol blending front
Sugar stocks have been gaining momentum lately with the development on ethanol blending front. India has also seen record sugarcane output in one year lead by surplus production in Uttar Pradesh. Indian sugar never enjoyed preference in global markets because of its high prices. Indian government always had to intervene and provide export subsidies to the sector to make it viable for exports. However, the competitiveness of Indian sugar industry increased substantially as the global prices of sugar itself in international markets increased meaningfully. This rise in sugar prices internationally has acted as a huge trigger for sugar mills in India. The decision of ethanol blending by the government has been icing on cake for the sugar manufacturers. Increased demand for ethanol will keep sugar mills busy for quite some time.
Following sugar stocks have been buzzing on bourses in past one month:-
| Company Name |
YTD returns (%) |
1 month returns (%) |
| SBEC Sugar Ltd. |
114.45 |
95.2 |
| KM Sugar Mills Ltd. |
209.56 |
93.7 |
| Shree Renuka Sugars Ltd. |
99.83 |
60.94 |
| Dharani Sugars & Chemicals Ltd. |
169.24 |
60.04 |
| Simbhaoli Sugars Ltd. |
146.96 |
52.3 |
| Magadh Sugar & Energy Ltd. |
119.44 |
51.45 |
| Gayatri Sugars Ltd. |
83.41 |
47.45 |
| Riga Sugar Company Ltd. |
77.58 |
41.18 |
| Dwarikesh Sugar Industries Ltd. |
127.33 |
38.36 |
| Dalmia Bharat Sugar & Industries Ltd. |
181.77 |
36.9 |
| Triveni Engineering & Industries Ltd. |
158.05 |
29.43 |
| Mawana Sugars Ltd. |
94.71 |
28.67 |
| Rana Sugars Ltd. |
189.97 |
28.36 |
| Vishwaraj Sugar Industries Ltd. |
32.24 |
27.17 |
| Bajaj Hindusthan Sugar Ltd. |
154.06 |
21.13 |
| Rajshree Sugars & Chemicals Ltd. |
83.39 |
21.1 |