MUMBAI (Commodity Online): Sugar stocks posted opening gains on the Bombay Stock Exchange (BSE) after the Indian Sugar Mills Association declared 11% rise (YoY) in the sugar output at 14.37 million tonnes during October-March 2010 period.

An official of Indian Sugar Mills Association was quoted stating that country’s sugar output during October to March, 2010 period was up 11% over previous year at 14.37 million tonnes. The official also mentioned that number of sugar mills operational in the current year was more than double than that in the previous year.

As of now 317 sugar mills were working compared with 145 mills same time last year, said the official.



Sugar stocks including Bajaj Hindusthan Ltd (BOM:500032) and Balrampur Chini Mills Ltd (BOM:500038) gained close to 1.5% in the opening trades. Bajaj Hindusthan traded at Rs.148.80 and Balrampur Chini was trading at Rs.95.45.

Triveni Engineering & Industries Ltd (BOM:532356) traded at Rs.131.55 up 1.2%, while Oudh Sugar Mills Ltd (BOM:507260) was trading with moderate gains of 1.2% at Rs.46.50.

Sugar association, ISMA had earlier said India's sugar output is seen at 16.8 million tonne during current year that commenced on October 1. Last year, the country's sugar output was 14.7 million tonne.

Late rains have helped improve sugarcane yield. Also, sugar recovery this time is higher that last year, the official said.

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