The stock holding limit will be worked out on the basis of giving 100% weightage to the month-end notional stock of the preceding month," the ministrys notification said.

Some analysts warned that export quota relaxations, reduction in GST rates for ethanol production, and early forecasts of production shortfall were only short-term triggers.

After showing weakness in the last couple of sessions, Nifty witnessed a decent upside bounce on Monday and closed the day higher by 151 points. After opening with a slightly positive note, Nifty continued its upside momentum for the whole session.

India’s sugar production in the 2022-23 sugar season (SS ), which began in October, is estimated at a record 410 lakh tonnes

Sharekhan is bullish on Dhampur Sugar Mills has recommended buy rating on the stock with a target price of Rs 260 in its research report dated October 21, 2022.

A board meeting of Rajnandini Metal is also lined up to deliberate fundraising. Embassy Office Parks REIT other than quarterly earnings will also deliberate over dividend.

“As we are into results season, we will see stock-specific performance due to the actual results. In the midcap space, we like GHCL, Tata Chemicals, Vishnu Chemicals & rice exporting companies like KRBL & LT foods. One can also look at Shree Renuka Sugar LTD, Pennar Industries Ltd, Jindal Drilling and Industrial Ltd, RK forge and La Opala RG Ltd.”

The increase use of ethanol blending has provided a new growth opportunity for India’s perennially underperforming sugar industry.

Sharekhan is bullish on Dhampur Sugar Mills has recommended buy rating on the stock with a target price of Rs 295 in its research report dated July 29, 2022.

Its net profit stood at Rs 31.13 crore in the year-ago period, according to a regulatory filing.

In the Nifty 50 index, 22 stocks were trading in the green, while 27 stocks were trading in the red.

In the Nifty pack, 20 stocks were trading in the green, while 30 stocks were trading in the red.

Some of the stocks had delivered solid returns and, despite the steep falls, are still sitting on strong one-year returns, data compiled by Trendlyne suggests. Data showed Samtex Fashions sank 64 per cent from its 52-week high, Dhampur Sugar slumped 55 per cent; DCM Nouvelle plunged 53 per cent over its one-year high.

In the Nifty50 index, 24 stocks were trading in the green, while 26 stocks were in the red.

Reliance Chemo, SP Refractories Ltd., Empyrean Cashews Ltd., Shanti Overseas(Ind and Kohinoor Foods, hit their fresh 52-week highs at 11:15AM.

The Nifty Auto index was trading 0.74 per cent down at 11033.7.

The Nifty Bank index was trading 1.1 per cent up at 34667.05.

The Nifty Pharma index was trading 0.19 per cent down at 12667.65.

The Nifty Realty index was trading 1.03 per cent down at 387.95.

Adani Ports SEZ, Tech Mahindra, Asian Paints, TCS and Wipro were among the top losers on NSE.

News agencies on Tuesday reported that the government is going to limit sugar exports, which will help bring down domestic prices but further flame global food prices. Reports said the government may cap sugar exports at 10 million tonnes for the year ending September.

Total income, however, fell to Rs 964.27 crore in the third quarter of this fiscal year from Rs 1,110.07 crore in the corresponding period of the previous year, according to a regulatory filing. During the last fiscal, Dhampur Sugar Mills had reported a net profit of Rs 228.96 crore over a total income of Rs 4,248.96 crore.

Sugar stocks are likely to carry the bullish momentum of the past two weeks as the national policy framework for the sweetener is favourable, with New Delhi continuing to push the ethanol blending programme (EBP) to help offset any supply overhang and lower oil import bills.