Sugar millers, Balrampur Chini Mills Ltd (BOM:500038) and Shree Renuka Sugars Ltd (BOM:532670) have been assigned improved ratings from the global ratings major, Morgan Stanley.
The two Indian sugar majors were raised to ‘overweight’ from ‘underweight’ at Morgan Stanley, which also upgraded its view on the Indian sugar industry to ‘attractive’ from ‘cautious’.
The latest improvement in the individual as well as industry ratings seems to have come mainly on account of the government’s decision on resumption of sugar futures trading from November onwards.
The company stocks traded at Rs.91.5 and Rs.85 respectively, with gains of over 3.2% each on the Bombay Stock Exchange (BSE) in the morning trades today.
source: commoditystocks
Morgan Stanley betters ratings on two sugar firms
Tuesday, September 28, 2010 | India Sugar, Latest Sugar News | 0 comments »
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