Nifty And Sensex Surge; Sugar Stocks Show Mixed Market Sentiment
On Monday, sugar stocks experienced mixed trading as broader markets surged. The Nifty rose by 84.25 points, closing at 24,936.40, and the Sensex gained 375.61 points to end at 81,559.54. Despite the positive market trend, sugar companies like Balrampur Chini Mills Ltd., Dalmia Bharat Sugar, and Dhampur Sugar Mills Ltd. saw declines, while Uttam Sugars rose by over 3%, reflecting mixed sentiment in the sugar sector.
On Monday, sugar stocks witnessed mixed trading, even as broader markets surged. The Nifty rose by 84.25 points to close at 24,936.40, while the Sensex gained 375.61 points to finish at 81,559.54. Despite this positive trend, several sugar companies saw declines.
Among the notable losers, Balrampur Chini Mills Ltd. and Dalmia Bharat Sugar and Industries Ltd. fell by 2.86%. Dhampur Sugar Mills Ltd. dropped 3.65%, while Bannari Amman Sugars Ltd. declined by 2.46%. Other significant laggards included DCM Shriram Industries Ltd., Rajshree Sugars & Chemicals Ltd., and Davangere Sugar Company Ltd.
However, Davangere Sugar Company Ltd. continues to stand out with its strong production capabilities. The company operates a sugar plant with a capacity of 6,000 tonnes of cane crushed per day and five warehouses that can store up to 60,000 tonnes of sugar. In line with its sustainability focus, the company also produces ethanol, boasting a 65 KLPD capacity, and operates a 24.45 MW co-generation power plant.
On the brighter side, Dalmia Bharat Sugar and Industries Ltd. managed a modest gain of 0.29% to close at Rs 453, while Uttam Sugars surged over 3%, closing at Rs 345.10, signalling mixed sentiment in the sugar sugar sector amidst broader market gains.
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