Sugar Sector

Sugar recovery rate improves, Thanks to winters

Sugar recovery rate improves, Thanks to wintersAn increase in the sugar recovery rate has been reported by the UP sugar millers this year. Prolonged winters have resulted in providing these milers respite. The current recovery rate now can be closely compared to last year. This year it has been 8.86% compared to an 8.94% last year.

UP sugar production to rise

sugarA report in the Financial Express has said that the sugar output in the state of Uttar Pradesh could rise by 31 percent over the previous forecast.

The sugar production could be as much as last year's 40.64 lakh tonne which is higher than the earlier forecast of 30-35 lakh tonne. The industry has faced many problems such as farmer agitation and low availability of the cane in the recent months.

The state has already achieved 30 lakh tonne in production. Some analysts not only expect the state to reach the level of the last year but also surpass it by March.

Buy Shree Renuka Sugars For Target Rs 215

Buy Shree Renuka Sugars For Target Rs 215Stock market analysts are of the view that investors can buy Shree Renuka Sugars Ltd stock to achieve an intraday target of Rs 211.

According to them, investors can buy the stock above Rs 209 with a strict stop loss of Rs 207.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 215.

Shares of the company, on Monday (Feb 01), closed at Rs 207.95 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 247.20 and a low of Rs 72.20 on BSE.

Sell Shree Renuka Sugars With Stoploss Of Rs 216

Sell Shree Renuka Sugars With Stoploss Of Rs 216Stock market analysts are of the view that investors can sell Shree Renuka Sugars Ltd stock with a target price between Rs 210-205.

According to them, investors can sell the stock below Rs 212 with a strict stop loss of Rs 216.

If the stock fell below Rs 202, it may see more weakness.

Today (Jan 28), the stock opened at Rs 218.50 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 247.20 and a low of Rs 67.50 on BSE.

Retail sugar prices touching Rs 50 per kg; govt expresses helplessness

sugar pricesThe spiraling sugar prices in almost all retail markets in India have become a bane for most of the consumers – more so as there appear to be no signs of the prices stabilizing in the near future, and the government has expressed its helplessness in taking hold of the situation.

The retail prices of sugar have been steadily ascending since the 2009 second half; and, at present, the retail cost of packaged sugar has risen to a rather disquieting Rs 46 a kilogram.

This hike in sugar price is largely an upshot of a deficit in production, further fueled by the Christmas-New Year season.

Festive West high on desi wear, apparel exports surge 6 per cent

Apparel exports have shown a dramatic improvement in November.

Figures released by the Apparel Export Promotion Council on Friday showed that the growth in exports over the previous year, which had been negative through most of 2009, falling to an abysmal low of 17.62 per cent in October, hit a positive 6.04 per cent in November.

The upturn is a result of strong festive buying in the United States and Europe — two of India’s biggest overseas markets — during the Christmas season.

“This festive season has definitely been better than last year’s. Orders have improved over the last six months,” said Rajendra Hinduja, managing director of the Rs 1,175-crore Gokaldas Exports, India’s largest apparel export house.

Shree Renuka Intraday Buy Call

Shree Renuka Intraday Buy CallStock market analysts are of the view that investors can buy Shree Renuka Sugars Ltd stock to achieve an intraday target of Rs 219.75.

According to them, investors can buy the stock with a strict stop loss of Rs 213.5.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 223.

Shares of the company, on Tuesday (Dec 15), closed at Rs 215.60 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 240.45 and a low of Rs 61 on BSE.

Buy Triveni Engg For 1-2 Days: Karvy

Buy Triveni Engg For 1-2 Days: KarvyKarvy Stock Broking Limited has maintained 'Buy' rating on Triveni Engineering Ltd stock to achieve a target of Rs 115 in 1-2 trading sessions.

According to Karvy, interested traders can buy the stock between Rs 108-109 with a strict stop loss of Rs 104.

The shares of the company on Monday, (Dec 14), closed at Rs 109.50 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 125.30 and a low of Rs 32.10 on BSE.

Current EPS and P/E of the stock stood at 7.06 & 15.61 respectively.

Buy Balrampur Chini With Stoploss Of Rs 142.50

Balrampur ChiniStock market analysts have maintained 'buy' rating on Balrampur Chini Mills Ltd with an intraday target of Rs 147.

According to them, interested traders can purchase the stock with a strict stop loss of Rs 142.50.

If the bourses remain on the positive track, then the stock price will hit a target above Rs 151.

Shares of the company, on Friday (Dec 11), closed at Rs 144.45 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 167.30 and a low of Rs 34.25 on BSE.

Current EPS & P/E ratio of the stock stood at 8.82 & 16.16 respectively.

Govt plans strategic sugar reserve

sugarThe Centre aims to set aside a certain quantity of sugar as strategic reserve to plug occasional shortages.

The food ministry hopes to carve out the limited stock because it expects normal availability of sugar in 2009-10 in spite of a production shortfall of 7 million tonnes.

The deficit will be met largely through imports totalling 5 million tonnes as well as last-year’s carry-over stock of 2.4 million tonnes.

India is the world’s largest consumer of sugar. The country uses 2 million tonnes of the sweetener a month. Demand in 2009-10 is expected to be nearly 23 million tonnes.

Buy Bajaj Hindusthan With Stoploss Of Rs 230

Buy Bajaj Hindusthan With Stoploss Of Rs 230Stock market analysts are of the view that investors can buy Steel Authority of India Limited (SAIL) stock to achieve an intraday target between Rs 226-230.

According to them, investors can buy the stock above Rs 224 with a strict stop loss of Rs 220.

Shares of the company, on Wednesday (Nov 25), closed at Rs 222.80 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 237 and a low of Rs 38.50 on BSE.

Buy Sakthi Sugars With Stoploss Of Rs 94.50

Sakthi Sugars Stock market analysts have maintained 'buy' rating on Sakthi Sugars Ltd with an intraday target of Rs 98.

According to them, interested traders can purchase the stock around Rs 96-97 with a strict stop loss of Rs 94.50.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 100.

Shares of the company, on Wednesday (Nov 18), closed at Rs 97.20 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 105.70 and a low of Rs 18.10 on BSE.

Sugar could rise to Rs 50 per kg by Jan

IndiaSugar is set to become one of the most expensive essential commodities, with prices expected to exceed Rs 50 per kg by the first week of January 2010 if the government does not intervene immediately, a state Congress leader has warned.

Maharashtra Pradesh Congress Committee spokesperson Kanhaiyalal Gidwani has shot off an urgent letter to Prime Minister Manmohan Singh and Union Agriculture Minister Sharad Pawar, urging them to “study the situation in totality” and import sugar in the “better interest of the common man” before the situation gets out of hand.

Sell Balrampur Chini Mills

Balrampur Chini Q3 net profit jumps four-fold to Rs 66 crore Stock market analysts have maintained 'Sell' rating on Balrampur Chini Mills Ltd (BCML) to achieve a target that lies between Rs 148-145 today.

The investors are advised to sell the stock to avoid loss, as there are full chances of a downward trend in this stock in today's session.

If the stock fell below Rs 142, it may see more weakness.

According to analysts, investors can sell the stock below Rs 150 with a strict stop loss of Rs 152.

Balrampur Chini Intraday Buy Call

Balrampur ChiniStock market analysts have maintained 'buy' rating on Balrampur Chini Mills Ltd (BCML) with an intraday target above Rs 141.

According to them, interested traders can purchase the stock above Rs 139 with a strict stop loss of Rs 135. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 143.

Shares of the company, on Saturday (Oct 17), closed at Rs 137.80 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 7.76 and 18.23 respectively. The share price has seen a 52-week high of Rs 139.25 and a low of Rs 29.70 on BSE.

EID Parry acquires 76 percent stake in Sadashiva Sugars

EID Parry acquires 76 percent stake in Sadashiva Sugars

EID Parry (India) Ltd has announced that it has purchased 76% stake in Bangalore based Sadashiva Sugars.

The sources informed that the acquisition entails an investment of Rs 50 crore.

EID Parry functionaries stated in a communiqué that the funding of the acquisition will be done through internal accruals.

Sadashiva Sugars is having a facility situated at Nagaral Nainegali, Bagalkot district in Karnataka. This newly started plant is having a capacity to crush sugarcane of 2500 tcd and also has a cogeneration capactiy of 15.5 MW.

Buy Bajaj Hindusthan To Achieve Short-Term Target Of Rs 210: Nirmal Bang

Bajaj-HindusthanIn its latest research report, Nirmal Bang, an equity research firm said that Bajaj Hindusthan, which has been consolidating in the range of 172-183, can give good returns in the short term.

The report further stated that, if the stock maintains above 183 with huge average volumes of 25 lakh, then it will hit a target of Rs 210.

The stock has strong support at Rs 177.

Today (Oct 07), the shares of the company opened at Rs 183.40 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 234.35 and a low of Rs 38.25 on BSE.

India to extend deadline for duty-free sugar import to May 2010

India to extend deadline for duty-free sugar import to May 2010India, the world’s largest sugar consumer, has decided to extend the deadline for duty-free sugar import from November 2009 to May or June 2010.

Food and agriculture minister Sharad Pawar said that for the second consecutive year, the demands had surpassed the availability of sugar.

As a result, the government had permitted sugar purchase at zero duty even after the present deadline of November 2009. He added that the period of extension is not yet fixed but it might be till May or June 2010.

Kesar Enterprises Ltd Long Term Buy Call: Sovid Gupta, FairWealth Securities

Kesar Enterprises Ltd Long Term Buy Call: Sovid Gupta, FairWealth SecuritiesEstablished in the year 1933, Kesar Enterprises Limited (KEL) is presently engaged in a wide galaxy of diversified activities. It grew as a member of the Kilachand group in the year 1933 and thereafter, the story has been of one steady growth.

Currently, KEL has evolved into one of the leading industrial houses in Uttar Pradesh, North India. It is engaged in the manufacture, marketing & sale of a wide-range of products that can be broadly divided into the following two groups:

Buy Sugar Stocks: Sovid Gupta, Fairwealth Securities

sugarICE sugar hit a fresh 28-year high on August 29, with the Oct contract taking out the Aug. 12 high of 23.33 cents per pound and peaking at 23.63.

History:

The area under cane cultivation since October 2008 has reportedly gone down from 28.5 lakh hectares in 2007-08 to 21.40 lakh hectares. The fall can be attributed to bumper crop, increased stockpiles and delay in cane payments in 2007.

More than half of the districts in UP and Maharashtra (leading cane producers of the cane) have been declared drought hit, thus Industry expects are expecting India to turn from surplus in 2007 to a deficit of 5 MT by 2010.

Going Forward:

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