DAM Capital initiates coverage on sugar sector; bullish on UP sugar companies

Brokerage firm DAM Capital initiates coverage on sugar sector, highlighting low sugarcane yields and impact of El Nino. It assigns a 'buy' rating to Balrampur Chini, Triveni Engineering, Dalmia Bharat Sugar, and Dwarikesh Sugar.

Sugar stocks rally up to 17% in a month, with Uttam Sugar Mills leading the way

According to industry body ISMA, sugar production in India, the world's second-largest sugar-producing nation after Brazil, fell 6% to 311 lakh tonnes till April 15 of the 2022–23 marketing year ending September, mainly due to lower output in Maharashtra.

Sugar stocks to get sweetened as prices rise to decade highs? Here's what experts say

Sugar prices are soaring due to unfavourable weather conditions and increasing demand. The outlook for sugar production this year is weak.

Triveni Engineering is in a sweet spot, growth drivers are in place, says Sharekhan; retains 'buy'

Triveni Engineering is the largest integrated sugar manufacturer and market leader in engineering businesses in India. It currently has seven sugar mills in operation and is involved in other ventures such as retail stores and FMCG trading. Its sugar business is in a favourable position due to its presence in western Uttar Pradesh and de-bottlenecking in three of its sugar units. Production is projected to increase over the next two years, with higher production anticipated in FY2024, and a hike in realization due to increasing demand for bio-fuels is expected to improve the profitability of distillery businesses.

Sugar stocks rise between 5 to 20% in trade today following GST cut on ethanol; Check top gainers here

<ul><li>According to analysts, the short term trend is positive for the sugar stocks as good volumes are witnessed along with price up moves.</li></ul>

Sugar production in India is set to drop by 7% this year: Report

Government has allowed mills to export 6.15 million tonnes of sugar in the first tranche, and producer body the Indian Sugar Mills Association expects India to earmark up to 4 million tonnes of sugar for overseas shipments in the second tranche.

Sugar stocks delivered 10-30% returns in a month; Shree Renuka sugars stands at the top

The bull run in sugar stocks started in June after the government advanced the target of making petrol with 20% ethanol by five years to 2025. Analysts believe that rising ethanol demand and aggressive ethanol capacity addition will boost sugar companies' margins in the coming quarters.

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DAM Capital initiates coverage on sugar sector; bullish on UP sugar companies

markets

Sugar stocks rally up to 17% in a month, with Uttam Sugar Mills leading the way

markets

Sugar stocks to get sweetened as prices rise to decade highs? Here's what experts say

markets

Triveni Engineering is in a sweet spot, growth drivers are in place, says Sharekhan; retains 'buy'