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Sunday, Apr 11, 2004

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Sweet run for sugar stocks

Sowmya Sundar

SUGAR stocks have had a sweet run during the last week. Both top and the second-rung stocks figured among the largest gainers during the week.

A host of sugar stocks, such as Balrampur Chini, Bannari Amman Sugars, Ponnie Sugars, Dhampur Sugars, Thiru Arooran Sugars, KCP Sugar, Rajshree Sugar and Andhra Sugar, recorded gains in excess of 15 per cent during the week.

Sugar manufacturers expect low output this season, which could lead to firm prices. They are also looking at importing raw sugar, process it and export it to widen the market. The expectation of a better performance on account of these factors may have lead to a rally in these stocks.

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