Sugar Sector Receives Big Relief at G-20 Summit in India
The recently concluded G-20 summit in India has brought some significant developments, particularly in the sugar sector. Let’s start by discussing PM Modi’s statement at the summit and then explore its potential impact on the sugar industry.
PM Modi’s Statement to G-20
During the summit, PM Modi highlighted the issue of rising petrol and diesel prices worldwide, including in India, and its adverse effects on the environment. He proposed the G20 satellite mission for global biofuel production as a solution to combat pollution.
There May Be a Big Stir in the Sugar Sector
PM Modi’s emphasis on biofuel production at the G20 meeting could potentially create a significant stir in the sugar sector. Biofuel is manufactured from the waste straw of various crops, including sugarcane, which is a primary raw material for sugar production. This development opens up new possibilities for sugar factories to diversify their operations and contribute to sustainable energy production.
Top Performer Companies
The Indian stock market has 43 listed companies in the sugar sector, categorized into microcap, small, and midcap sectors. Notably, no large sector company is included. With the positive outlook for the sugar sector post the G-20 statement, top-performing companies like Triveni Engineering, Balram Sugar Mill, Sakthi Sugars, Dalmia Bharat Sugar, and Dhampur Sugar Mill are expected to witness significant growth.
Companies Giving Good Returns in the Last 1 Year
Several companies in the sugar sector have delivered impressive returns to their investors over the past year. Gayatri Sugar tops the list with 404% returns, followed by Piccadily Agro Inds with 198.48% returns. Davangere Sugar Company, Bajaj Hindustan Sugar, and Magadha Sugar Engineering have also provided substantial returns of 190%, 144.57%, and 122% respectively. These companies may experience a surge in orders for biofuel production following PM Modi’s G-20 statement.
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