Sugar Stocks are rising after the government announced a rise in the MSP (minimum sale price) for 2024-2025. Balrampur Chini and Dalmia Bharat are the top recommendations. The experts mention that the sugar companies will have a further rise in price shortly performing well in the market. The sugar expects the MSP to reach Rs. 40-41 per kg. Amid the ongoing food inflation, the MSP is also set to increase for the current financial year. Let us explore more about it below.
Sugar Stocks On Rise, Which Stocks To Choose?
Sugar stocks are rising after the MSP increases for the current financial year. According to details, the Sugar price will rise to Rs. 40 to 41 per kg. Several experts refer to different sugar shares. CMT. Vice President Rearech YES Securities mentions the market to be bullish. The minimum selling price for sugar has been unchanged since 2019 at Rs. 31 per kg. However, the MSP will now be Rs. 40-41 per kg. Let us have a look at the increased stocks in the Sugar industry today.
Shree Renuka Sugars Ltd.’s price increased by 11.64% today. The company share price is Rs. 49.30 per share today. The share opened at Rs. 44.95 per share today closing at Rs. 49.49 today. Ugar Sugar Works’ share price increased by 4.48%. The company’s current share price is Rs. 85.80 per share. It opened at Rs. 83.40 per share and closed at Rs. 85.85 today. Avadh Sugar & Energy’s share price increased by 5.36% today. The company has a share price of Rs. 639.75 per share today. It opened at 617 per share and closed at Rs. 641.50 per share.
Rana Sugars has a share price of Rs. 26.38 per share. The company’s share price increased by 7.67% today. It opened at Rs. 25 per share today and closed at Rs. 26.32 today. K M Sugar Mills Ltd.’s share price increased by 8.13%. The company has opened its share price at Rs. 41.85 per share. It closed at Rs. 44.91 per share today. Its current share price is Rs. 44.83 per share. Dhampur Sugar Mills’ share price is Rs. 249.80 per share today. The company had an increase in the share price by 5.41% today. It opened at Rs. 254.79 today and closed at Rs. 249 per share.
Simbhaoli Sugars’ share price will be Rs. 33.71 per share. It increased by 8.53% today. The share opened at Rs. 31.31 per share and closed at Rs. 33.90 today. Magdh Sugar & Energy Ltd. has a share price of Rs. 753.55 per share. It has a 7.53% increase in its share price today. Apart from that, it opened at Rs. 711 per share and closed at Rs. 749 per share.