Sugar Sector

Sugar stocks extend gains for second day

sugarMumbai: Shares of sugar companies on Tuesday soared higher for second day in a row after the government announced interest-free loans for cash-strapped mills and hiked import duty.

Bajaj Hindusthan rose by nearly 7 percent to Rs 31.55, while shares of Shree Renuka Sugar, Balrampur Chini, Dwarikesh Sugar, EID Parry, Dhampur Sugar, Simbhaoli Sugar gained by 1-5 percent at the BSE.

Rajshree Sugar, Sakthi Sugar, Dalmia Bharat Sugar, Oudh Sugar Mills and Uttam Sugar also registered smart gains.

Govt. announces more incentives for ailing sugar industry

Govt. announces more incentives for ailing sugar industryProviding yet another big relief to the struggling sugar industry, the government has announced its decision to provide financial assistance to sugar manufacturers to export up to 40 lakh tonnes of raw sugar for a period of two years.

Food Minister K V Thomas said the government decided to give incentives to promote raw sugar as a new product.  The new incentives were approved by an informal Group of Ministers (GoM), headed by Agriculture Minister Sharad Pawar.

Government to provide financial aid to sugar mills

sugar-millsNew Delhi, Dec 26 : The government Thursday said it will provide financial aid in the form of interest subsidy to cash-strapped sugar mills to enable them make payments to farmers for cane purchases.

The Cabinet Committee on Economic Affairs headed by Prime Minister Manmohan Singh gave its final approval to the proposal to provide interest subvention.

Government may give financial assistance to sugar mills: Thomas

K-V-ThomasNew Delhi, Nov 28 : The government is likely to offer financial assistance and other support to sugar mills to overcome the crisis over crushing and pay higher prices to sugarcane farmers, Minister of Consumer Affairs, Food and Public Distribution K. V. Thomas said Thursday.

Talking to reporters here, Thomas said the central government is willing to consider all possible assistance to sugar mills so that cane crushing could start as soon as possible.

“The central government is willing to consider all possible the steps its to help the sugarcane farmers and the sugar industry,” Thomas said.

Karnataka fixes sugarcane price at Rs 2,500 a tonne

Karnataka fixes sugarcane price at Rs 2,500 a tonneKarnataka has fixed ex-gate price for sugarcane at Rs 2,500 a tonne for the current crushing season (2013-14).

S. S. Pattanshetty, Commissioner for Cane Development & Director of Sugar, issued a notification announcing that Rs 2,500 per tonne had been fixed as ex-gate price for the crop in southern districts and Rs 2,500 a tonne had been fixed as ex-field price in northern districts. Ex-field means costs of harvesting and transportation will be borne by mills.

Govt. may soon announce relief package for crisis-ridden sugar industry

Govt. may soon announce relief package for crisis-ridden sugar industryThe Congress-led UPA Government is widely expected to announce a significant relief package to support the crisis-ridden sugar industry.

The government has just convened a high-level meeting to discuss ways to support struggling sugar mills. A source said a relief package of up to Rs 50,000 crore could surface for discussion at the meeting on Wednesday.

The relief package could include interest-free loans for millers, and increase in import duty on sugar from the current 15 per cent to a whopping 50 per cent.

Govt. may raise import duty on white sugar soon

sugarThe government is mulling over proposals to hike import duty on white sugar or scrap it on raw sugar, Food Minister K V Thomas revealed.

Mr. Thomas said a hike in import duty on white sugar would check it from flooding Indian market; while scrapping import duty on raw sugar would make it cheaper and lure buyers away from white sugar.

Currently, import duty on both white and raw sugar is at 10 per cent. But under the proposals, the government is considering hiking import duty on white sugar to 20 per cent, and scrapping it on raw sugar to zero.

Government likely to reduce controls in sugar industry

Government likely to reduce controls in sugar industryThe central government is likely to reduce its controls in the sugar industry after a high powered panel recommends allowing sugar producers to sell their produce freely in the market and sharing 75 per cent of their profits with the sugarcane farmers.

Dr C Rangarajan, chairman of the prime minister's economic advisory council, headed the committee that suggested that state governments should buy sugar from the open market instead of making it mandatory for sugar mills to sell 10 percent of their produce to the government at a loss.

PM sets up panel for reforming sugar industry

PM sets up panel for reforming sugar industryIndian Prime Minister Manmohan Singh has constituted a new panel under the leadership of the former RBI governor C Rangarajan to recommend the ways to reform the sugar industry in India.

C Rangarajan, who has also worked as the chairman of Prime Minister's Economic Advisory Council, will prepare recommendations on policy changes for deregulation of the industry sector that is still under tight government control.

Predictions on Sugar Production

Predictions on Sugar ProductionDue to approaching festive season in India, the Government has increased the cap of sugar stock that can be held by the traders. The Government has issued the order so as to avoid the shortage of sugar and inflation in sugar prices.

With increase in the output of sugarcane the country is planning to increase the export limit in October. The increase in the production of sugar has risen for the second year. The price of the raw sugar was recorded at a fall of
2.75%.

Buy Balrampur Chini With Stop Loss Of Rs 64

Buy Balrampur Chini With Stop Loss Of Rs 64Technical analyst Anand Kuchelan of Fudiciary Euromax Capital Markets has maintained 'buy' rating on Infrastructure Balrampur Chini Mills Limited stock with targets of Rs 75 and 80.

According to analyst, the investors can buy the stock with a stop loss of Rs 64.

The stock of the company, on March 07, closed at Rs 68.60 on the Bombay Stock Exchange (BSE).

Current EPS is -0.62.

The share price has seen a 52-week high of Rs 114 and a low of Rs 66 on BSE.

Hold Shree Renuka Sugars With Stop Loss Of Rs 66

Hold Shree Renuka Sugars With Stop Loss Of Rs 66Technical analyst Kunal Saraogi has maintained 'hold' rating on Shree Renuka Sugars Limited stock with a stop loss of Rs 66.

According to analyst, the investors can exit on rally to around Rs 80-82.

The stock of the company, on March 01, closed at Rs 164.70 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 108.15 and a low of Rs 53 on BSE.

Sell Shree Renuka Sugars With Stop Loss Of Rs 80.50

Sell Shree Renuka Sugars With Stop Loss Of Rs 80.50Technical analyst Mitesh Thacker has maintained 'sell' rating on Shree Renuka Sugars Limited stock with targets of Rs 73 and 69.

According to analyst, the stock can be sold below 77.25 with stop loss of Rs 80.50.

Today, the stock of the company opened at Rs 78.45 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 108.15 and a low of Rs 53 on BSE.

Buy Bajaj Hindustan For Target Of Rs 134

Buy Bajaj Hindustan For Target Of Rs 134Technical analyst Amit Gupta of ICICI Securities has maintained 'buy' rating on Bajaj Hindustan Limited stock with targets of Rs 125 and 134.

The analyst said that the stock can be purchased on dips of 1-2%.

The stock of the company, on December 28, closed at Rs 118.85 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 242.90 and a low of Rs 100.25 on BSE.

Current EPS & P/E ratio stood at 2.71 and 44.18 respectively.

Buy Balrampur Chini With Target Of Rs 95

Buy Balrampur Chini With Target Of Rs 95Technical analyst Jatinder Sharma has maintained 'buy' rating on Balrampur Chini Limited stock with a target of Rs 95.

According to analyst, the stock can be purchased with a stop loss of Rs 88.

The stock of the company, on December 28, closed at Rs 88.35 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 145.90 and a low of Rs 67.10 on BSE.

Current EPS & P/E ratio stood at 1.42 and 63.43 respectively.

Buy Shree Renuka Sugars With Target Of Rs 102

Buy Shree Renuka Sugars With Target Of Rs 102Technical analyst Pankaj Jain of Satguru Capital has maintained 'buy' rating on Shree Renuka Sugars Limited stock with a target of Rs 102.

The analyst said that the stock can be purchased with a stop loss of Rs 91.

The stock of the bank, on December 15, closed at Rs 155.55 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 202.25 and a low of Rs 108 on BSE.

Current EPS & P/E ratio stood at 13.06 and 12.16 respectively.

Short Term Buy Call For Shree Renuka Sugars

Short Term Buy Call For Shree Renuka SugarsTechnical analyst Mitesh Thacker has maintained 'hold' rating on Shree Renuka Sugars Limited with a target of Rs 91.

The analyst said that the stock has strong support at Rs 75.

Today, the stock of the company opened at Rs 76.40 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 123.60 and a low of Rs 53 on BSE.

Buy Shree Renuka Sugars With Stop Loss Of Rs 90

Shree_Renuka-Sugars.Stock market analyst Nishant Jain of Tradeswift Broking has maintained buy rating on Shree Renuka Sugars Limited stock with a 1-2 day target of Rs 98.

Mr. Jain said that the stock can be purchased with a stop loss of Rs 90.

The stock of the company, on November 15, closed at Rs 143 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 123.60 and a low of Rs 53 on BSE.

Shree Renuka Sugars Ltd registered an increase of 15.5% in its consolidated net profit, which stood at Rs 116.9 crore for the three month period ended on September, 30, 2010.

Buy Triveni Engg With Stop Loss Of Rs 124

Buy Triveni Engg With Stop Loss Of Rs 124Stock market analyst Kunal Saraogi has maintained 'buy' rating on Triveni Engineering & Industries Limited stock to achieve a target of Rs 139.

According to analyst, the interested investors can buy the stock with strict stop loss of Rs 124.

The stock of the company, on Nov 08, closed at Rs 127 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 4.41 and 29.34 respectively.

The share price has seen a 52-week high of Rs 143.50 and a low of Rs 86 on BSE.

Intraday Buy Call For Shree Renuka Sugars

Intraday Buy Call For Shree Renuka SugarsTechnical analyst Anu Jain is bullish on Shree Renuka Sugars Ltd and has recommended 'buy' rating on the stock with a target of Rs 104 in its latest research report.

According to Jain, the interested investors can buy the stock with a stop loss of Rs 95.50.

The stock of the company, on Nov 05, closed at Rs 97.30 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 123.60 and a low of Rs 53 on BSE.

According to latest reports, Shree Renuka Sugars Ltd would announce its quarterly outcomes on November 15.




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