13th April, 2023.
Stocks of all listed sugar companies witnessed a downfall by 1.5 - 3% on the index today.
Renuka Sugars was down by 2.12%, Dalmia Bharat Sugar was down by 1.45%, Mawana Sugars was down by 2.83%.
All other sugar mill stocks were in the red today during closing. Both NIFTY50 and SENSEX closed the day in slight green today.
The drop comes as a result of the additional sugar quota and assurance of sufficient sugar for April. This caused market emotion on sugar to weaken at some level. After GoI announced the additional quota of 2 LMT on 11th April, prices of domestic sugar started weakening the following day.
Comments