Sugar stocks sweeten on hopes of robust growth

Sugar stocks have advanced on expecttaions of a likely 3 fold jump in net profit.

Bajaj Hindustan opened at Rs 217.60 and touched a high of Rs 218, up 1.5% from its previous close. The counter has clocked volumes of 96,318 shares as compared to the two-week daily average traded volumes of 1.44 million shares on the BSE.

Balrampur Chini is now trading at Rs 134, up around 1% from its previous close. The counter has witnessed trades of 111,083 shares as compared to the two-week daily average traded volumes of 1.04 million shares on the BSE.

Dhampur Sugar is now trading at Rs 131, up around 3% from its previous close. The counter has seen trades of 55,858 shares as compared to the two-week daily average traded volumes of 247,802 shares on the BSE.

Renuka Sugar is now at Rs 231, up 0.5%. The counter ahs seen trades of 68,800 shares as compared to the two-week daily average traded volumes of 629,047 shares on the BSE.

Triveni Engineering and Industries is now 1% higher at Rs 104. The counter has seen trades of 15,965 shares as compared to the two-week dailya verage traded volumes of 245,156 shares on the BSE.

The sugar industry is likely to post strong profit in this financial year on the back of an unexpected decline in production in the current sugar cycle (October 2009-September 2010).

source: BS