Bajaj Hindusthan Sugar Ltd, Shree Renuka Sugars Ltd, Dwarikesh Sugar Industries Ltd and Dhampur Sugars Ltd gained up to 12 per cent in Wednesday's trade while Dhampur Sugar and Balrampur Chini Mills also advanced up to 6 per cent, riding on hopes of better-than-anticipated sugar realisations amid a sharp 21 per cent jump in domestic sugar prices in August on supply concerns. Globally, sugar futures are hovering around 14-month highs.
On Wednesday, the biggest beneficiary of the trend was Dwarikesh Sugar that soared 11.88 per cent to Rs 50 apiece on BSE. Bajaj Hindusthan Sugar surged 10.90 per cent to hit a high of Rs 20.65 per share on BSE. Shree Renuka Sugars jumped 8.84 per cent to Rs 25.36 apiece. Dhampur Sugar Mills advanced 5.75 per cent to Rs 178.40. Simbhaoli Sugars added 4.16 per cent to Rs 7.52, while Balrampur Chini Mills was up 1.14 per cent at Rs 659.60.
Spot data available with NCDEX suggested Kolhapur sugar jumped 21 per cent to Rs 5,250 on August 18 from Rs 4,350 on July 31. Local prices have risen amid dwindling inventories, which may even force India to import sugar, espectailly with the 2026-27 crushing season likely to be delayed, Bloomberg reportedreported.
A Bloomberg report suggested that the government is considering a proposal to lower or scrap 100 per cent tax on inbound shipments in an effort to boost supplies. The deliberations, the report suggested, came days before an expected surge in domestic demand during the upcoming festival season.
India is the second largest sugar producer. Raw sugar futures rose 4.3 per cent to 17.59 cent in New York, the highest level since May 2025. Raw sugar pices in New York are up 18 per cent in August.