In the last nine months, the upward trend in sugar price in the global commodity markets has brought back focus on the sugar sector. But in the case of India, the sugar sector has been going through a transformation. From just being a sugar producer to becoming part of the clean energy supply chain. All thanks to mixing ethanol with other fuels. In fact a number of companies have seen a significant improvement in their bottomline due to this shift. As the underlying macro changes sugar companies are making a comeback on the analyst list and some of them have seen an increased participation by institutional investors.
The tailwinds from higher domestic prices and ethanol production will offset lower exports and improve realisations of sugar mill companies, said analysts
The Indian government has issued a final warning to all legal entities involved in the sugar trade to declare their stocks on a food ministry website by October 17. The government has observed that many entities have not registered themselves on the sugar stock management system and are not updating their stock position regularly, which disrupts the sugar market equilibrium.
Market expert Avinash Gorakshakar, Head of Research at Profitmart Securities, spoke to Business Today TV about stocks that could see a potential upside during the festive season. Here are the stocks you might want to put on your radar.
The Nifty 50 index closed up 0.30 per cent at 19,674 on Friday, while the Sensex closed at 0.02 per cent to 66,023 points, , stock market, nifty, sensex, bajaj finance, delta corp, taxes, sugar stocks, infosys, real estate