Stocks That Have Increased In Share Price Owing To Surge In Price Of Commodities

1. Sugar stocks:

Dhampur Sugar Mills has hit a 52-week high price of Rs. 271 per share on the NSE. This is a 19.5% surge in comparison to the scrip's previous close of Rs. 226.65. Similarly other sugar stocks in today's trade such as Dwarikesh Sugar, Uttam Sugar Mills among others rallied between 15-20%. In the quarter ended March of FY21 the company reported total income of Rs. 1078 crore as against Rs. 1110 crore in the December quarter. The company's net profit also rose to Rs, 91.44 crore during the period under review.

Domestic sugar prices have increased 7-8 per cent in last one month mainly due to high summer demand & crushing season getting over with no surprises on sugar production front. Analysts at ICICI Securities believe domestic sugar prices would remain above Rs 34/kg given aggressive exports & diversion of sugarcane towards ethanol production.

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