UTTAR PRADESH SUGAR
Budget Bets: Pushing sugar sector in the clean energy chain is good for politicians & industry: 5 sugar stock with upside potential of up to 25%
After multiple attempts were made between 2001 and 2002, finally it was post 2015 that the sugar sector started witnessing a turnaround. Why is this turnaround special? Because all the stakeholders of the sector, the farmer, the industry, the politicians, and customers have been happier in the last nine years. Given the fact that sugar is a subject which comes under both state and central government, it is probably one of the most complex industries to make any changes. Another fact is among the industry which despite being in existence for ages, none of the stocks has been able to reach a level where they would be classified as large cap stocks.This typically happens in industries which operate in specific regions. But in the long run if the sugar industry becomes an integral part of the clean energy system then things might change.
NCLT orders insolvency proceedings against Simbhaoli Sugars
NCLT initiated insolvency proceedings against Simbhaoli Sugars Ltd after a 2018 petition by Oriental Bank of Commerce, now part of PNB. Anurag Goel is interim resolution professional. Default: Rs 130 crore (November 22, 2017). Simbhaoli operates in Uttar Pradesh, sells Trust brand sugar, and its shares fell on BSE. CIRP initiated by Allahabad Bench. Filing occurred on Friday.
Sugar summit: India to hosts Global ISO Council meet from June 25-27, showcases biofuel leadership
India is set to host the International Sugar Organization (ISO) Council Meeting from June 25-27, bringing together delegates from over 30 countries to discuss critical issues in the sugar and biofuel sectors. India, the world's largest consumer and second-largest sugar producer, has been nominated to chair the ISO for 2024.
Andhra Pradesh rides the wave, leads India's fishing and aquaculture sector with 41% share
Andhra Pradesh leads India's fishing and aquaculture sector with a 40.9% share. The sector's output increased from Rs 80,000 crore in 2011-12 to Rs 1,95,000 crore in 2022-23. The livestock sector also saw growth, with milk, meat, and egg production rising. Uttar Pradesh and Rajasthan lead in livestock output, while Uttar Pradesh dominates sugar crop production. Bananas surpassed mangoes in value, and potatoes and onions lead vegetable output. Agriculture, forestry, and fishing contributed 18.2% to India's gross value added in 2022-23.
Triveni Engineering buys addl 36.34 pc stake in sugar firm Sir Shadi Lal Enterprises for Rs 45 cr
Triveni Engineering & Industries Ltd acquires 36.34% stake in Sir Shadi Lal Enterprises Ltd for Rs 45 crore, enhancing its position as a major sugar producer. Vice Chairman Tarun Sawhney views the acquisition as a strategic move to boost Triveni's sugar and alcohol businesses.
Triveni Engineering & Industries acquires majority stake in Sir Shadi Lal Enterprises
Triveni Engineering & Industries Ltd announced acquiring an additional 36.34% stake in Sir Shadi Lal Enterprises Limited, making SSEL a subsidiary of the company.
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Elections still on for them? But macro structure has changed for good: 5 sugar stocks with upside potential of up to 27%
In a sector, where government policies have a major impact, the risk of any change in policy impacting the players is always present. That is the reason why the valuations of these stocks from such sectors don't cross a certain threshold. Probably the sugar sector tops the lists of such sectors and the reason is because both the central and state governments have some say in the policy making. While the general elections are over, there are many states which have exposure to the sugar sector and state elections are going to be held there over the next couple of quarters. So a narrative might get built against the sugar stocks. What needs to be done, make a distinction between the reality that the balance sheets of these companies are much stronger than what they were, their business model is not just about sugar, but about part of the clean energy which is something which is going to grow.
Rahul, Priyanka will not be blamed for Lok Sabha poll defeat, claims Amit Shah
Union Home Minister Amit Shah stated that Congress president Mallikarjun Kharge will lose his job after the Lok Sabha election results are announced on June 4. He added that Rahul Gandhi and Priyanka Gandhi will not be blamed for the defeat. Shah predicted a strong performance by PM Modi and criticised the opposition leaders for alleged corruption and lack of understanding of people's issues.
View: Why India struggles to keep its food safe
The Food Safety and Standards Authority of India denounced as “false and malicious” news reports that linked the spice scandal to a recent 10-fold relaxation on maximum permissible limits of pesticide residue. The country has the most stringent norms, the regulator said, even though others clearly seem to think otherwise.
Bajaj Hindustan Q4 Results: Net profit slides 31% YoY to Rs 90.56 crore
Bajaj Hindustan Sugar on Friday posted 31 per cent fall in consolidated net profit to Rs 90.56 crore during the fourth quarter of the 2023-24 fiscal on lower income. Net profit stood at Rs 130.91 crore in the same quarter of the previous financial year, as per the regulatory filing.
Sugar output remains slightly lower at 31.09 million tonnes till Apr 15 of 2023-24 season: ISMA
India is a major sugar producing country in the world. Sugar season runs from October to September. Currently, there are curbs on sugar exports for an indefinite period. Indian Sugar Mills Association (ISMA) has revised the net sugar production estimate for 2023-24 season to 32 million tonnes.
DCM Shriram gets Rs 100 cr sustainable finance from Standard Chartered Bank
DCM Shriram Ltd secures Rs 100 crore sustainable finance from Standard Chartered Bank for a compressed bio-gas plant at Ajbapur Sugar Unit, using 'pressmud' as feedstock.
Stable policy, stronger balance sheets make them ready for another round of re-rating? 6 sugar stock with upside potential up to 44%
If one was to look at the history of the sugar industry. Two things would stand out, their balance sheet was ridden with debt. Why it was ridden with debt because it is an industry where the policy and political interference was maximum. Second, the companies used to dread the time when elections were coming closer. The reason was simple, in order to please the vote bank, there would be announcements which would put pressure on the industry. The top most being the hike in the minimum support price (MSP) or fair remunerative price as it is called by this name also. It is essentially the minimum price at which sugar mills are supposed to buy sugar cane from farmers. But things have changed for the better in the last ten years and debt numbers and also stock prices are clearly showing that. There is no arbitrary change in policy around election time. The question is whether a better debt situation would lead to stronger re-rating this time?
Net sugar output dips marginally at 280.79 lakh tonnes so far in 2023-24 mkt yr ending Sep: ISMA
India's sugar production declined to 280.79 lakh tonnes by March 15. Maharashtra, Karnataka, and Uttar Pradesh experienced varying levels of decrease. ISMA reported 371 active factories. Ethanol manufacturing and FRP hike were notable developments.
Industry body ISMA revises 2023-24 sugar production estimate upwards by 2.9%
According to the data provided by Maharashtra government, the state’ sugar production as on March 12 stood at 9.9 million tonnes against 10.15 million tonnes produced on the same day of previous year; down by 2.42%. “The sugarcane availability in Maharashtra and Karnataka is higher than what was expected earlier. However, cane availability in another major state Uttar Pradesh is predicted to be lower than earlier estimates,” said ISMA in a statement.
Do short term headwinds provide a long term opportunity? 6 stocks from sugar sector with upside potential of up to 38%
In a sector, where government policies have a major impact, the risk of any change in policy impacting the players is always present. That is the reason why the valuations of these stocks from such sectors don't cross a certain threshold. Probably the sugar sector tops the lists of such sectors and the reason is because both the central and state governments have some say in the policy making. Recently, there was a tweak in how much sugar cane juice can go for ethanol production and now a rise in fair remunerative price (FRP) which companies have to pay to farmers. In different states, it is called by different names, like state advised price or minimum support price also, however the reaction of the street was that all the sugar stocks tumbled. The fact is that in some states this price which sugar mills pay was hiked months back and that does not mean any negative impact. So, it has to be case by case rather than broad brush.
Sugar output marginally declines to 25.53 MT so far in this marketing year: ISMA
Sugar production stood at 25.84 MT till February in the year-ago period. Sugar marketing year runs from October to September. In its second estimate, the Indian Sugar Mills Association (ISMA) has projected sugar output to decline by 10 per cent to 33.05 MT in the current 2023-24 marketing year as against 36.62 MT in the previous year.
UP NEET candidate passes away in a Kota hospital
Shivam Raghav, a NEET candidate, died in MBS Hospital in Kota. The police have opened an inquiry into his death, following another student's death in Kota. Both families are demanding an unbiased investigation.
UP Budget 2024 highlights: Quoting Ramayan, FM presents Rs 7.36 lakh cr record budget, says we are no more a Bimaru state; Fiscal deficit at 3.46%
UP Budget 2024 Highlights: Uttar Pradesh FM Khanna said that this budget will lay a strong foundation for UP to become a one-trillion-dollar economy. He emphasized that it will address the needs of people from all walks of life in the state, with a particular emphasis on infrastructure, improving the lives of youth, women, farmers, and the underprivileged.
Gross sugar output may fall 10 pc to 330.5 lakh tonnes in 2023-24 marketing year ending Sep: ISMA
India's sugar production, without ethanol diversion, is estimated to decline 10% to 330.5 lakh tonnes in the current marketing year. Maharashtra and Karnataka are likely to see lower output. The gross production in Maharashtra is estimated to fall to 99.9 lakh tonnes, while in Karnataka it may dip to 49.7 lakh tonnes. In Uttar Pradesh, the gross output is seen increasing marginally. The government has allowed sugar diversion of only 17 lakh tonnes for ethanol production. This could result in a net sugar production of around 313.5 lakh tonnes.
India's year-on sugar production till January 15 lags by 5.28%
Expecting a fall in India's sugarcane production due to drought conditions in Maharashtra and Karnataka, India has banned use of sugar syrup and B-heavy molasses for ethanol. However, despite the sugar production being lower than previous year, citing 'reports', the ISMA has now claimed that the sugar production is likely to be higher than expected earlier.
India's Oct-Dec sugar output dips 7.7 pc to 112 lakh tons: NFCSF
However, Uttar Pradesh, the country's second largest sugar producing state, produced more sugar at 34.65 lakh tonnes till December of this season, when compared to 30.80 lakh tonnes in the year-ago period. NFCSF said the average sugar recovery in the country stood at 9.17 per cent and "as winter progresses, sugar yield is expected to increase accordingly".
RIL turns to sugar mills to fuel green energy plans
In September, RIL chairman Mukesh Ambani had announced plans to set up 100 CBG plants over the next five years. These plants are expected to consume 5.5 million tonnes of agri-residue and organic waste.
Balrampur Chini aims to maintain growth traction; acquisition opportunities on radar
The city-based sugar major, which operates ten sugar factories in Uttar Pradesh with an aggregate sugarcane crushing capacity exceeding 80,000 TCD, remains open to acquisitions for inorganic growth while maintaining organic growth in its existing mills.
India's Oct-Nov sugar output drops as mills start late: Trade body
Indian sugar mills have produced 4.32 million metric tons of sugar, down 10.7% YoY, due to delayed operations in Maharashtra and Karnataka due to price disputes with farmers. This could lead to reduced export quotas and support for global prices trading near multi-year highs.
Bajaj Hindusthan Sugar Q2 Results: Firm posts Rs 123-crore net loss
Total income declined to Rs 1,163.30 crore in the July-September period of 2023-24 fiscal, from Rs 1,329.99 crore in the corresponding period of the previous year, according to a regulatory filing
El Nino unlikely to cause sugar shortage in India: NFCSF
The National Federation of Cooperative Sugar Factories Ltd (NFCSF) has dismissed rumors of a sugar shortage in India due to El Nino, stating that sugar availability in the 2023-24 season is not expected to be affected. While El Nino has impacted the monsoon in parts of Maharashtra, other cane-growing states have received above-normal rainfall, aiding the growth of cane.
NARCL gives binding offers for two highway assets and a steel company
If lenders approve a binding offer for the two road projects and the steel company, it will be followed by a Swiss challenge auction. NARCL's offer for the three companies is less than 10% of their outstanding dues, one of the persons said.
Uttar Pradesh surpasses Maharashtra in sugar production this season
"The total sugar produced by Uttar Pradesh in sugar season 2022-2023 is 107.29 lakh tonnes (which includes 3.05 lakh tonnes of Khandsari (physically extracted sugar from liquid jaggery), as compared to 105.30 lakh tonnes by Maharashtra. The area under cane cultivation in Uttar Pradesh is 28.53 lakh hectare (maximum in India) as compared to 14.87 lakh hectare in Maharashtra," said UP's Cane Development and Sugar Mills' minister Laxmi Narayan Chaudhary
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