Balrampur Chini, Dwarikesh Sugar, Praj Ind, Triveni shares: Should you buy sugar stocks?
Systematix Institutional Equities maintained a positive stance on the sugar sector, recommending a “BUY” for Balrampur Chini Ltd, Triveni Engineering Ltd, Dwarikesh Sugars Ltd, and Praj Industries Ltd. The note highlighted that India’s sugar industry faced challenges from government policy changes ahead of the 2024 general elections, leading to higher input costs, unsold sugar inventory, decreased ethanol sales, and reduced capacity utilization.
Sugar stocks: It has retained its positive stance on the sugar sector with a BUY rating on Balrampur Chini Ltd, Triveni Engineering Ltd and Dwarikesh Sugars Ltd. It also maintained its ‘Buy’ on Praj Industries Ltd, it said.
Systematix Institutional Equities in its latest strategy note said India’s sugar industry bore the brunt of government’s policy flip flop in the wake of general elections 2024. This, it said, caused input costs to surge, unsold sugar inventory to pile up, ethanol sales volumes to slip and capacity utilisation to shrink.
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