| Bajaj Hindusthan Sugar jumped 11.60%, while Dwarikesh Sugar Industries gained 9.03%. Shree Renuka Sugars rose 7.79% and Rajshree Sugars & Chemicals added 7.73%. Avadh Sugar & Energy climbed 4.59% and Uttam Sugar Mills advanced 4.31%. Praj Industries gained 3.91%, Dhampur Sugar Mills rose 3.37%, while Triveni Engineering & Industries edged up 0.20%. The rally comes after oil prices surged following disruptions in tanker traffic through the Strait of Hormuz amid the escalating Iran-Israel-US conflict. The Strait of Hormuz is a critical global oil transit route, handling more than one-fifth of the world's oil supply. Higher crude prices tend to increase ethanol demand as fuel producers shift toward biofuels. In Brazil, the world's largest sugarcane producer and exporter, stronger ethanol economics often lead mills to divert more cane toward ethanol production and away from sugar, tightening global sugar supply and supporting prices. The expectation of reduced sugar output from Brazil and firmer global sugar prices has improved sentiment toward Indian sugar companies, which could benefit from stronger realizations and improved industry dynamics. Powered by Capital Market - Live News |