India's sugar production fell 3 per cent to 29.9 million tonnes (MT) in the first six months of the 2022 23-marketing year ending September, according to industry body ISMA.
India has a cushion to export an additional 1 million tonnes of the sweetener if the domestic output reaches an estimated 33.6 million tonnes this year
The stellar performance of sugar stocks began in 2021, and is likely to continue in the new year - 2023, indicates the technical charts.
The government of India has taken a slew of measures in the past couple of years that have changed the dynamics of the sugar industry
Rajshree Sugars, Ugar Sugar Works, Simbhaoli Sugars, Sakthi Sugars and Bajaj Hindustan have zoomed in the range of 10 per cent to 19 per cent in intra-day trades so far.
The board of directors of Balrampur Chini on November 9 had approved Rs 145.44 crore share buyback at Rs 360 per share through the open market route.