Sugar tastes more sweet

The sugar stocks are in a sweet situation following the Allahabad High Court order that has asked the UP government to scrap SAP for cane this year. The Allahabad High Court has asked the UP government to pay Rs 81.18/quintal for cane this year. Effective cane price for UP Mills is at Rs 90.19/quintal. On the back of this news most sugar stocks have to witness life highs; like BajaJj Hindustan, Balrampur Chini, Shree Renuka, Andhra Sugar, Oudh Sugar, and Dhampur