The market mood is likely to remain upbeat in the upcoming session. Below are some trading ideas for the near term.
The consolidation and rangebound movement are expected to continue, given that volatility has risen to over an 11-week high. Below are some trading ideas for the near term.
The Nifty 50 is likely to consolidate further in the coming sessions before the start of a new leg of an upmove. Below are some trading ideas for the near term.
Sugar stocks surged after the government greenlit the use of sugarcane juice and B-Heavy molasses for Rectified Spirit and Extra Neutral Alcohol production, boosting shares of major players like Bajaj Hindustan Sugar and Balrampur Chini Mills.
Now, in addition to cane juice and syrup, mills can also use B-Heavy and C-Heavy molasses to produce ethanol
Sugar stocks climbed up to 5% after reports that the government is considering raising ethanol prices to boost production and meet the 20% blending target by 2025-26.
Sugar stocks such as Shree Renuka Sugars, Balrampur Chini Mills, Dalmia Bharat Sugar, EID Parry zoomed up to 13 percent amid report that the government is considering increasing minimum support price (MSP) of sugar for 2024-25.
Shree Renuka's revenue from operations grew by 18.1 percent YoY to Rs 3,014 crore for the quarter.
The current liabilities of the Shree Renuka Sugars and its subsidiaries exceed its current assets by Rs 2,452.1 crore.
The acquisition would enable the company to gain access to sugarcane catchment area with a significant reduction in lead time for setting up the plant in Uttar Pradesh and easy access to labour, the company has said