Sugar stocks are trading higher after the media report suggest that the Union finance ministry is considering a proposal to restructure sugar mills’ debt, which is under severe stress due to lack of capacity utilization.
Balrampur Chini Mills is currently trading at Rs 125.70, up by 2.95 points or 2.40% from its previous closing of Rs. 122.75 on the BSE. The scrip opened at Rs 124.10 and has touched a high and low of Rs 127.30 and Rs 124.00 respectively. So far 206024 shares were traded on the counter.
Dwarikesh Sugar Industries is currently trading at Rs 326.00, up by 27.80 points or 9.32% from its previous closing of Rs 298.20 on the BSE. The scrip opened at Rs 302.00 and has touched a high and low of Rs 330.00 and Rs 302.00 respectively. So far 280639 shares were traded on the counter.
Shree Renuka Sugars is currently trading at Rs 13.77, up by 0.68 points or 5.19% from its previous closing of Rs 13.09 on the BSE. The scrip opened at Rs 13.25 and has touched a high and low of Rs 13.98 and Rs 13.25 respectively. So far 485214 shares were traded on the counter.
The Union finance ministry is considering a proposal to restructure sugar mills’ debt, which is under severe stress due to lack of capacity utilisation. While sugar crushing begun two months ago, some mills in Maharashtra and Karnataka don’t have enough sugarcane to crush and are said to be closing operations. The sugar sector’s total debt is estimated at Rs 50,000 crore.
| Company Name | CMP |
|---|---|
| Shree Renuka Sugar | 27.28 |
| Bajaj Hindusthan Sug | 17.76 |
| Triveni Engg. & Inds | 383.15 |
| Balrampur Chini Mill | 473.45 |
| Dalmia Bharat Sugar | 371.90 |
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