Even as the broad market stays quite sluggish with investors largely wary of building up positions, this is turning out to be a pretty good session for sugar stocks.
The sugar space is seeing some hectic activity today on reports that the Uttar Pradesh Chief Minister Yogi Adityanath met a delegation of the sugar mills to hear their grievances and assured them to provide facilities for facilitating fresh investments to expand capacity and build new factories in the state.
Out of about 35 sugar stocks that are seeing some activity in the market at present, as many as 28 stocks are up in positive territory, with some of these posting handsome gains.
Riga Sugars, which has gained the most, is up as much as 14%. Bajaj Hindustan is rising 11% and Sir Shadi Lal Sugars is adding 8.5%. Simbhaoli Sugars, Kesar Enterprises, Dhampure Special, Empee Sugars, Gayatri Sugars, Dhampur Sugars, Monnet Project, Balrampur Chini Mills, Uttam Sugars and Rana Sugars are gaining 3% - 6.3%.
Dalmia Sugars and Triveni Engineering are trading higher by about 2.75%. DCM Shriram, Mawana Sugars, Dwarikesh Sugars, Shree Renuka Sugars, Thiru Arooran Sugar Mills, Ugar Sugar Works, Sakthi Sugars and Dharani Sugars are up 2% - 3.5%. Rajshree Sugars & Chemicals, Picadilly Agro and KM Sugar Mills are also up sharply. Bannariamman Sugars, EID Parry, Andhra Sugars and Ponni Sugars (E) are down marginally.
The Sensex is down 84.40 points or 0.28% at 29,337.99. The Nifty50 of the National Stock Exchange is dwn 23.10 points or 0.26% at 9113.30.