Inventory market in the present day: Submit-stellar returns in FY22, sugar shares are constantly below the sell-off strain after ushering into new monetary 12 months. In final one month, Shree Renuka Sugars share value has corrected round 16.50 per cent. In final one month, Balrampur Chini share value has went right down to the tune of 18.50 per cent, Triveni Engineering shares have tumbled greater than 21 per cent whereas EID Parry went down close to 6 per cent on this interval.
Right here we checklist out how main sugar shares have carried out in final one month:
1] Triveni Engineering: Share value of sugar main has tumbled from round ₹338 to ₹266, logging round 21 per cent dip in final one month. In final one week, Triveni Engineering sugar value has corrected round 7 per cent.
2] Balrampur Chini Mills: Shares of this sugar inventory has tumbled from round ₹483 to ₹393 apiece ranges, descending round 18.50 per cent on this interval. In final one week, it has gone down from close to ₹408 to ₹393, logging round 4 per cent dip on this interval.
3] Shree Renuka Sugars: Share value of this multibagger inventory has gone draw back from close to ₹53 to ₹44 apiece ranges in final one month, descending round 16 per cent on this interval. In final one week, Renuka Sugar share value has corrected round 10 per cent. Nevertheless, even after such sell-off set off, it is without doubt one of the multibagger shares in 2021 because it has delivered 200 per cent return in final one 12 months.
4] Dhampur Sugar Mills: Shares of the sugar inventory has hit decrease circuit in the present day. In final one week, Dhampur Sugar shares have corrected round 36 per cent whereas in final one month, it has gone right down to the tune of 44 per cent.
5] Dalmia Bharat Sugar And Industries: This sugar inventory has tumbled greater than 10 per cent in final one week whereas in final one month it has slipped from round ₹530 to ₹385 ranges, logging greater than 27 per cent correction on this interval.
Different sugar majors like EID Parry, Dwarikesh Sugar Industries, Avadh Sugar & Vitality and Bajaj Hindusthan Sugar have misplaced closely in current commerce session, particularly in final one month.
In the meantime Reuters has reported that India plans to limit sugar exports for the primary time in six years to stop a surge in home costs and will cap this season’s exports at 8 million tonnes – nonetheless a file degree.
As per the Indian Sugar Mills Affiliation (ISMA) estimates, Indian mills have already signed contracts to ship 7.2 million tonnes of sugar abroad. So, in remainder of the sugar market interval (October to September), abroad income is predicted to stay at bay as there’s solely 0.80 million tonne of export restrict is left whereas round 4 and half months are nonetheless left within the sugar advertising cycle.
Supply: Live Mint