Sugar companies shares surge on price spike

Shares in sugar companies were trading higher after a spike in sugar prices which is likely to boost manufacturers' margins, traders say.

Local sugar prices are hovering near their highest level in 15 months as demand from bulk consumers like cold drink and ice-cream makers improves due to the summer season. Sugar price has risen 14 per cent in just five weeks traders say.

Shares in Bajaj Hindusthan were up 7.8 percent, Balrampur Chini Mills rose 4.8 per cent and Shree Renuka Sugars gained 5.2 per cent.

Copyright: Thomson Reuters 2014