Sugar Stocks Regain Momentum as Prices Soar Up 3%
Sugar Shares News: The sugar industry is the most discussed in the stock market today. This industry’s shares increased by roughly 5-10%. Sugar price increases bolstered demand for sugar stocks in Wednesday’s trading session. Sugar prices in India have risen by more than 3% in the last two weeks, reaching their highest level in six years, according to reports. In terms of raw sugar pricing, sugar is at its highest level in six years on the domestic market. Additionally, sugar is now at an all-time high of 4 months in foreign markets.
Uttam, Avadh, Dalmia Sugar Trading At the Top
Individual stocks rose 10% on the BSE, with Uttam Sugar Mills reaching a 52-week high of Rs 440, with a two-fold increase in trading volumes. Dalmia Bharat Sugar rose 8% at Rs 436.40. Apart from these, Avadh Sugar was up over 12%, Dhampur Sugar Mills was up over 5%, Shree Renuka Sugars was up over 5%, and Sakthi Sugars was up nearly 5% in the last hour of trading. Limited rainfall in the country’s primary growing regions is said to have raised production fears for the coming season, perhaps contributing to food inflation and preventing the government from authorising sugar exports.
