Sugar prices are hovering near six-year highs, leaving a bad taste in Indian consumers' palates but sweetening the portfolios of investors in related stocks at Dalal Street. Shares of sugar manufacturers such as Piccadily Agro, DCM Shriram, Magadh Sugar, and Bajaj Hindustan have rallied up to a whopping 200 per cent so far in the financial year 2024 (FY24) as deficient monsoon rains in major sugarcane producer states like Maharashtra and Karnataka are expected to lead to a shortfall in sugar output ahead. In comparison, the BSE Sensex has modestly gained 11 per cent during this period.
A number of sugar companies in India are awaiting government approval for loans from the Sugar Development Fund to set up co-generation power units or ethanol plants.
Sugar scrips surged in early trades on Friday on good buying support following reports that Parliament has passed the Essential Commodities (Amendment) Bill 2003.
Earlier bidders in the SHAKTI auction were finding it difficult to meet their PPA obligations owing to shortfall in coal supply. The industry lobby has urged the Centre to review the guidelines and allow former participants as well.
The dollar bond market has been a favourite for Indian firms in 2014.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances