Last Updated :
01 July 2009 at 14:35 IST
Sugar stocks boom as monsoon sets mood
Commodity Online
MUMBAI: Sugar stocks rally on the bourses today following positive reports about the monsoon, which was delayed by nearly a week in the country.
Leading sugar stocks traded with positive mark on the Bombay Stock Exchange (BSE) today. Dhampur Sugar Mills Ltd gained by over 1% at Rs.68.60, while Balrampur Chini Mills Ltd gained by over 3% at Rs.108.5 in the afternoon trading session.
Shree Renuka Sugars Ltd, which was planning USD 100 million worth of investment towards acquisition of new sugar mills overseas. The stock was trading at Rs.144.45 with gains of close to 2.6%.
The Indian Meteorological Department (IMD) has predicted close to 93% monsoon this year. According to estimates till 24th June 2009, nearly 54% of the total rainfall was witnessed in the country. However, monsoon is expected to intensify post first week of July.
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