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Sugar Stock Prices: Shares of sugar companies have registered a huge rise on Wednesday. Shares of sugar companies have climbed up to 10% on the Bombay Stock Exchange (BSE). The reason for this increase in sugar stocks is that sugar prices rose to a six-year high on Tuesday. Sugar prices rose on concerns of less monsoon. Sugar prices have touched the highest level since September 2017.
Shares of Uttam Sugar Mills surged over 10%
Shares of Uttam Sugar Mills rose over 10% on the BSE on Wednesday to Rs. 444.15 was reached. Shares of the company hit a new 52-week high on Wednesday. Shares of Dalmia Bharat Sugar & Industries also rose 8% to Rs. 436.40. Shares of Shree Renuka Sugars also rose by 8% and the company’s shares traded at Rs. 54.79 has been reached.
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Shares of Dhampur Sugar Mills surged 7%
Shares of Dhampur Sugar Mills also rose by 7% and the company’s share price was Rs. 289.85 was reached. Shares of Ugar Sugar Works also rose 7% to Rs. 120 was done. Shares of Dwarikesh Sugar Industries also rose 5% to Rs. was 98.25. Shares of Balrampur Chinese Mills also gained around 3% and the company’s shares traded at Rs. 415 has been reached.
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Higher sugar prices will improve margins
Dealers say higher sugar prices will improve margins for producers such as Balrampur Sugar, Dwarikesh Sugar, Sri Renuka Sugars and Dalmia Bharat Sugar. Also these companies will be helped to make payments to the farmers on time. Sugar prices rose more than 3 percent in the past fortnight to a six-year high, Reuters reported.
Disclaimer: Information about stock performance is provided here only, not investment advice. Investing in the stock market is subject to risk and you should consult your advisor before investing.