“Apart from the state election results, consumer-price inflation (CPI) and industrial production (IIP) data will be the major triggers for the markets,” said Pankaj Pandey, head (research), ICICI Securities.
Sugar stocks rally after R7,200-cr drip to mills
Stocks of UP-based sugar companies surged after a ministers’ panel recommended a slew of measures for the cash-strapped UP sugar mills.
Oudh Sugar Mills gained 12.43%, Dwarikesh Sugar Industries was up 5%, Mawana Sugars gained 4.98%, Bajaj Hindusthan gained 5.46% while Balrampur Chini Mills was up 2.56%.
The ministers recommended a slew of incentives for the sugar industry, including 12% interest subvention on a R7,200 crore loan from banks.