Stock market update: Sugar stocks soar; Rana Sugars jumps 5%

NEW DELHI: Sugar stocks rallied in Tuesday's morning trade. The profit of sugar companies is expected to improve with prices firming up due to supply constraints, and companies such as Balrampur Chini, Dhampur Sugar, EID Parry, Dwarikesh Sugar are expected to be among the biggest beneficiaries, according to analysts

Shares of Rana Sugars (up 4.93 per cent), DCM Shriram Industries (up 2.65 per cent), Magadh Sugar (up 2.34 per cent), Triveni Engineering & Industries (up 1.95 per cent) and Mawana Sugars (up 1.91 per cent) were among the top gainers.

Ponni Sugars (Erode) (up 1.50 per cent), Bannari Amman Sugars (up 1.48 per cent) and Shree Renuka Sugars (up 1.39 per cent) too were trading with gains.


While SBEC Sugar (down 4.89 per cent), Indian Sucrose (down 4.26 per cent) and Piccadily Agro Industries (down 1.01 per cent) were among the top losers.

The NSE Nifty50 index was trading 7.30 points up at 12,336.85, while the 30share BSE Sensex was down 1.99 points at 41,857.7 at around 09:43 am.

Tata Steel (up 1.48 per cent), HCL Technologies (up 1.33 per cent), Tata Consultancy (up 1.23 per cent), Sun Pharmaceutical Industries (up 1.01 per cent) and Asian Paints (up 0.8 per cent) were among the top gainers in the Nifty pack.

On the other hand, HDFC Bank (down 0.7 per cent), UltraTech Cement (down 0.67 per cent), Larsen & Toubro (down 0.51 per cent), ICICI Bank (down 0.44 per cent) and HDFC (down 0.37 per cent) were trading in the red.