Sugar stocks sweeten in choppy trade

Bajaj Hindustan rose 2.83% to Rs 237.80, Balrampur Chinin Mills gained 3.43% to Rs 88.90 and Shree Renuka Sugars advanced 7.89% to Rs 891.30, in volatile trade on fresh buying

Meanwhile the BSE Sensex was up 253.90 points or 1.43% to 18,020.36, as Asian stocks recovered from early fall.

Bajaj Hindustan saw volumes of 22.74 lakh shares, Balrampur Chinin Mills witnessed volumes of 25.62 lakh shares and Shree Renuka Sugars clocked volumes of 1.53 lakh shares.

Sugar stocks witnessed high volatility in afternoon trade. After hitting an intra-day high of Rs 243.90 in early afternoon trade, Bajaj Hindustan declined sharply to touch an intra-day low of Rs 223. From here it staged some recovery. At the day's high, the stock rose 5.47%. At the day's low, it fell 3.56%.

Balrampur Chinin Mills also slipped sharply from Rs 87.70 in afternoon trade to touch an intra-day low of Rs 81.50. From here it staged a sharp recovery to strike an intra-day high of Rs 90.50 in mid-afternoon trade. At the day's high, the stock rose 6.16%. At the day's low, it fell 5.17%.

Similarly Shree Renuka Sugars slipped from Rs 866.65 in afternoon trade to Rs 826.30, only to strike an intra-day high of Rs 909 in mid after-noon trade. At the day's high, the stock rose 10.10%. At the day's low, it fell 2.97%. renuka