Share market update: Sugar stocks mixed; Magadh Sugar, Bajaj Hindusthan Sugar crack

NEW DELHI: Sugar stocks were trading mixed during Friday's trading session amid increased buying by stockists and limited supplies from mills.

Most sugar stocks had been under pressure for the last few sessions as the government on Wednesday increased the minimum price sugar mills pay to cane growers by Rs 20 per quintal to Rs 275 per quintal for the next marketing year starting October.

Around 10:35 am, shares of Piccadily Sugar and Allied Industries (up 14.38 per cent), Dalmia Bharat Sugar & Industries (up 1.77 per cent), Rana Sugars (up 0.97 per cent), Rajshree Sugars & Chemicals (up 0.96 per cent) and Triveni Engineering & Industries (up 0.72 per cent) were trading in the green.

However, Magadh Sugar & Energy (down 4.17 per cent), Shree Renuka Sugars (down 3.61 per cent), Ugar Sugar Works (down 2.42 per cent), Bajaj Hindusthan Sugar (down 2.36 per cent), Avadh Sugar & Energy (down 1.93 per cent), Dwarikesh Sugar Industries (down 1.71 per cent), Mawana Sugars (down 1.64 per cent), Uttam Sugar Mills (down 1.59 per cent), EID Parry (down 1.35 per cent) and Dhampur Sugar Mills (down 0.47 per cent) were among the top losers.

The NSE Nifty50 index was trading 44 points up at 11,001 around 10:35 am. The 30-share BSE Sensex was up 128 points at 36,479 around the same time.

Buying in heavyweights including Infosys, Reliance Industries, ICICI Bank, Larsen & Toubro and Tata Consultancy Services boosted equity benchmarks.

In the Sensex index, 19 stocks were advancing, while 12 were declining.

Infosys, Larsen & Toubro and ICICI Bank were leading among Sensex gainers.