Balrampur Chini, Shree Renuka, other sugar stocks rise up to 9% despite market sell-off: Here’s why
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US sugar is at its highest level in almost a week due to geopolitical tensions
Balrampur Chini, Shree Renuka, other sugar stocks rise up to 9% despite market sell-off: Here’s why
Sugar stocks rose up to 9% on March 4 despite benchmark indices being lower by 2% as Street expects higher crude prices, triggered by Middle East tensions, would make ethanol production more profitable for sugar mills.
On March 4, shares of Balrampur Chini, Shree Renuka Sugars, Bajaj Hindusthan Sugar were trading 6.3%, 7% and 9% higher, respectively.
US sugar is at its highest level in almost a week due to geopolitical tensions. Higher crude prices make ethanol production more profitable for sugar mills.
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