EID Parry is currently forming a Higher High, Higher Low structure, suggesting an ongoing uptrend. However, the stock has surged toward its rising trendline, which may act as a near-term resistance.Notably, the decline in volume during this price rise signals weakening momentum. The stock is trading 25% above its mean, while historically it tends to … Read more
The sugar sector surged over 15% on Monday after media reports said that the government has decided to allow sugar mills to divert up to 1.7 million metric tons of sugar for ethanol production. The move comes on the back of curbs on the diversion of sugar for ethanol production as part of efforts to … Read more
Sugar stocks jumped over 13% on the NSE on Thursday on the likelihood of a 14% fall in sugar output in Maharashtra in the 2023-24 crop year. Dalmia Sugar was the top gainer, while Dhampur Sugar, Avadh Sugar & Energy, Balrampur Chini Mills, Rana Sugar, Shree Renuka Sugars, The Ugar Sugar, Dwarikesh Sugar, Eid Parry … Read more
India’s sugar sector is under spotlight as the government has allowed sugar companies to export an additional one million tonnes if the country meets its target of 33.6 million tonnes for the marketing year 2022-23 (April-March). The government had capped it to 6 million tonnes for the reporting period. Commodity and currency expert Anuj Gupta … Read more
Indian markets recouped losses and closed higher for the fifth consecutive day on Thursday. The S&P BSE Sensex rallied nearly 100 points while the Nifty50 closed above 17550. Sectorally, buying was seen in oil & gas, utilities, power, energy, and IT stocks while selling was seen in consumer durables, banks, capital goods, and realty stocks. … Read more
Indian markets closed in the green on Thursday following positive global cues. The S&P BSE Sensex rallied more than 500 points while the Nifty50 closed above 17,650 levels. Sectorally, buying was seen in banks, IT, finance, consumer, and realty while selling was seen in FMCG, metals, and telecom stocks. Stocks in focus included Company which … Read more
The Indian sugar industry, the second largest global producer after Brazil (~36.5 MT), with 30.8 MT of production in the sugar season (Oct-Sep) 2020-21, was traditionally known for exports, cyclicity and its high operating costs. Synopsis The sugar sector is undergoing a massive revolution and has emerged as a powerful driver of clean energy, accelerating … Read more
Indian market closed in the green for the third consecutive day on Monday. The S&P BSE Sensex rose more than 1,000 points while the Nifty50 gained a little over 300 points. Sectorally, buying was seen in consumer durables, realty, IT, capital goods, and energy stocks. The S&P BSE Mid-cap, and Small-cap indices rose over 2 … Read more
On the operational front, CG Power is among the leading companies in power transmission and distribution, railways and motors industries. Synopsis CG Power had a long term debt of over Rs 2,000 crore at the end of FY20. The Murugappa group has struck a settlement with banks (SBI is the lead banker) to repay Rs … Read more