π Sugar stocks jump as global prices hit highs
Sugar stocks rallied by up to 7% as global sugar prices reached multi-month highs, with raw sugar hitting 16.6 cents per pound. Companies like Balrampur Chini and Triveni Engineering saw significant gains on the BSE. Domestic Indian sugar prices surged nearly 10% in the last month to around Rs 5,000-5,090 per quintal in Mumbai. This bullish trend is supported by deficient rainfall and strong festival demand expectations. Supply worries from Brazil and other regions suggest India might cut future sugar exports. π