Sugar stocks turn sweet on UP polls

Shares of Bajaj Hindusthan settled for the day 1.80% higher at Rs 34.

Shares of sugar companies with large operations in Uttar Pradesh today gained value on expectations for a favourable policy regime in the state,where Samajwadi Party is set to form a new government.

Shares of Bajaj Hindusthan settled for the day 1.80 per cent higher at Rs 34,while Dhampur Sugar Mills rose by 0.50 per cent to Rs 40.15.

Oudh Sugar ended the day 0.38 per cent higher and Balrampur Chini Mills shot up by 3.30 per cent.

Story continues below this ad

Analysts said that sugar stocks gained as the SP government in the past had been known as good for the sector.

Sugar cane prices have risen over the recent past,hitting industry margins during the tenure of BSP.

However,Dwarikesh Sugar and Triveni Engineering saw profit booking and fell by 0.84 per cent 2.20 per cent,respectively.

The Mulayam Singh Yadav-led party captured 224 seats in the 403-member House.

Story continues below this ad

In the broader market,it was a highly volatile trading session and the benchmark Sensex ended 27.77 points lower at17,145.52.

Sources in the LJP (RV) said the names of the remaining 15 candidates would also be announced very soon.

Bihar polls: Chirag Paswan’s LJP (Ram Vilas) announces first list of 14 candidates

India26 min ago

Lok Janshakti Party (Ram Vilas) announced its first list of 14 candidates for the Bihar assembly polls, with its state unit chief Raju Tiwary and leader Hulas Pandey among the nominees. As per the seat-sharing arrangement, LJP (RV) will contest 29 seats, while BJP and JD(U) will contest 101 seats each. The remaining 15 candidates will be announced soon.

View all shorts

Live Blog

PHOTOS