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While legendary investor Jim Rogers believes that commodities remain one of the cheapest asset classes right now despite a considerable run-up in prices, he warns of a correction in the short-term. ....
Shree Renuka Sugars ended locked in the 10 per cent upper circuit. “These stocks are gaining because sugar prices have gone up in the international market and because of government’s ethanol policies. Ethanol mixing in petrol was about 5-6 per cent and government has given a mandate to increase it to 20 per cent by 2025,” said independent advisor Ambareesh Baliga. “Now, ethanol can be manufactured directly from sugar. This will ensure sugar inventory is not too high,” said Baliga. Stocks such as Avadh Sugar, Uttam Sugar, Triveni Engineering, Dwarikesh Sugar, Shree Renuka and Bajaj Hindusthan have gained 40-87 per cent in the last one month. All the sugar companies are in the green for 2021 calendar year, gaining 10-55 per cent. ....
3 reasons behind the rally in sugar stocks SECTIONS Last Updated: May 04, 2021, 12:20 PM IST Share Synopsis Sugar companies would do far better than what they have done in the past. They are probably experiencing the best cyclical trend now. I would prefer companies with a good mix of ethanol. We certainly like the largest companies like EID. We like Balrampur and Triveni as well, says Deven Choksey. ETMarkets.com Related NSE Explore Now Explaining the reasons behind the rally in sugar stocks, Deven R Choksey, MD, KR Choksey Investment Managers, says that the commodity is experiencing a phase of cyclical uptrend. Sugar prices are going up because Brazilian sugar output is likely to fall to the extent of 7 million tonnes and we have surplus sugar stock, he says in an interview with ET Now. Edited excerpts. ....
Sugar stocks on a sweet ride, but low volume turns analysts cautious SECTIONS Share Synopsis Sugar stocks have been seeing a rally of their lifetime, as rising international prices and increased demand for ethanol from oil market companies (OMCs) have raised their outlook. Sugar stocks have surged up to 90%. Related NSE Explore Now NEW DELHI: Even as rising Covid-19 cases have tamed the speed of the equity bulls, there are some pockets in the market that have remained virtually unaffected. Stocks of often-overlooked sugar makers are one such pack. Sugar stocks have been seeing a rally of their lifetime, as rising international prices and increased demand for ethanol from oil market companies (OMCs) have raised their outlook. In the last one month, these stocks have surged up to 90 per cent. ....