Sugar stocks turn sweet

The Big news of today was for the sugar sector. If one may recollect, last month, the Govt allowed sugar mills until 5th July to export sugar but due to the heavy rains where producers couldn’t move stocks from factories to port, many missed the deadline.

Keeping that in mind, today the Govt announced extension of two weeks for the export of 800,000 tonnes of sugar.  

Though the industry says that only a small quantity is remaining for exports, the market is happy because exports are lucrative currently due to a weak rupee and higher global prices.

Thanks to this, sugar stocks are currently among the top gainers on the BSE.

Dalmia Sugar, EID Parry, Balrampur Chini, Bannari Amman, Dhampur Sugar, Dwarikesh; almost all the stocks are up in the green.