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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
At 11:47 AM; Ponni Sugars (Erode) traded 7.5 per cent higher at Rs 462.65, as against 0.45 per cent decline in the S&P BSE Sensex
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.
At 09:15 am; around 20.73 million equity shares representing 8.58 per cent total equity of Triveni Engineering changed hands on the BSE, the exchange data shows.
There are no overdues in our account and the account is fully regular with all the lenders as on date, the Bajaj Group company said.
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.
India is expected to produce around 36.5 million tonnes of sugar in the new season that began on Oct 1, a leading industry body said on Monday
Mills in India, which vies with Brazil as the world's top sugar producer, have so far contracted to export about 1.2 million tons and aim to ship as much as 8 million tons in the 2022-23 year
The stock of sweetener hit a six month high and quoted at its highest level since April 2022
The government on Wednesday permitted the export of specified quantity of raw sugar to the US under the Tariff-Rate Quota (TRQ) till December-end this year. Earlier, it was permitted till September 30. "The validity for export of raw sugar to the US under TRQ has been extended from September 30, 2022 to December 31, 2022," the Directorate General of Foreign Trade (DGFT) said in a public notice. TRQ is a quota for a volume of exports that enters the US at relatively low tariffs. After the quota reaches its limit, a higher tariff is applicable to additional shipments. In May, the government permitted additional export of 2,051 metric tonne of raw sugar under the TRQ to the US for its fiscal year ending September 30, 2022. With this quantity, total sugar export to the US under TRQ during its fiscal year 2022 would be 10,475 MT. India, the world's second-biggest producer and the largest consumer of sugar, has a preferential quota arrangement for sugar export with the European Union as
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
The high production cost of sugar in Uttar Pradesh may adversely impact its export from the state, creating a glut-like-situation in the upcoming cane crushing season
Stocks to Watch Today: In the F&O space, Ambuja Cements, Can Fin Homes, Delta Corp, Escorts, PVR and RBL Bank are in F&O ban period on Thursday.
Stocks to Watch Today: Oil related shares are likely to be in focus on Tuesday as the oil ministry sought a review of the windfall profit tax on domestically produced crude oil.
Shree Renuka, Dwarikesh, Triveni Engineering, Uttam Sugar, Dhampur Sugar and Dalmia Bharat Sugar are down in the range of 2 per cent to 7 per cent on the BSE.
After the massive slaughtering post April 2022, sugar stocks consolidated in June and are now witnessing a pullback rally.