Balrampur Chini Mills, Dwarikesh Sugar Industries, Ugar Sugar Works, Rana Sugars, Dhampur Sugar Mills and Shree Renuka Sugar overcome their significant peaks, with volumes exceeding daily 3-month high
The stellar performance of sugar stocks began in 2021, and is likely to continue in the new year - 2023, indicates the technical charts.
Among individual stocks, Shree Renuka Sugars, Ugar Sugar and EID Parry have zoomed up to 169 per cent so far in 2022. Charts indicate further upside for these select stocks.
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.
ICRA expects operating margins for sugar firms to remain in the range of 13.0 - 13.5 per cen in FY23 (in line with FY22 levels) supported by elevated sugar realizations as well as ethanol realizations