Sugar company shares in India recorded gains even as the broader market remained under pressure. The movement followed rising crude oil prices linked to the West Asia conflict and disruptions around the Strait of Hormuz.
Expectations around increased ethanol blending in petrol and possible revisions in ethanol pricing also contributed to the activity in sugar sector stocks.
Sugar stocks moved higher as crude oil prices increased by nearly 12% since the start of the West Asia conflict. The rise in oil prices has raised attention on ethanol blending in petrol, which is produced from sugarcane and grains.
Companies including Rajshree Sugars, Rana Sugars and Avadh Sugar recorded gains during the session despite weakness in the broader BSE and NSE indices.
The government has already directed oil marketing companies to supply petrol blended with up to 20% ethanol across states and union territories with a minimum Research Octane Number of 95 from April 1.
Ethanol is used as a petrol additive as it burns cleaner and helps reduce dependence on imported crude oil.
Several sugar companies recorded gains in the trading session as on March 9, 2026, at 12:10 PM. Rajshree Sugars rose 6.31% to ₹29.5. Rana Sugars increased 5.18% to ₹11.99, while Avadh Sugar gained 4.92% to ₹404.45. Dhampur Sugar moved up 4.57% to ₹127.05 and India Sucrose rose 4.18% to ₹74.
Other gainers included Uttam Sugar up 3.72% at ₹200.9, SBEC Sugars up 3.53% at ₹34, Dalmia Sugar up 3.16% at ₹318 and Shree Renuka Sugars up 3.1% at ₹24.63. Dwarikesh Sugar also increased 2.87% to ₹39.47.
Read More: AISTA Slashes India’s Sugar Output Forecast as Climatic Issues Hit Yields!
Some sugar companies recorded declines despite the sectoral gains. Vishwaraj Sugar slipped 0.19% to ₹5.21 and Gayatri Sugars fell 0.37% to ₹8.02. Mawana Sugars declined 0.52% to ₹78.84 while Dhampure Speciality Sugars dropped 4.96% to ₹112.95.
EID Parry fell 2.73% to ₹801.4 and Triveni Engineering declined 3.63% to ₹376.5. Other declines included Sakthi Sugars down 3.8% to ₹15.71 and Simbhaoli Sugars down 4.72% to ₹8.08.
Market activity in sugar stocks also followed expectations of a decline in domestic sugar output during the 2025 to 2026 season.
Production estimates moved from around 29.5 million tonnes to nearly 28 million tonnes. At the same time, higher ethanol demand supports the diversion of sugarcane for ethanol production.
Globally, sugar prices also increased during the past 2 days as higher crude oil prices may influence ethanol production in major producing countries.
Sugar stocks recorded gains during the trading session despite a broader market decline. Companies such as Rajshree Sugars, Avadh Sugar and Dhampur Sugar registered notable increases, while some stocks including EID Parry and Triveni Engineering moved lower. The movement in the sector occurred alongside rising crude oil prices and developments related to ethanol blending in petrol.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Mar 9, 2026, 12:46 PM IST
Team Angel One
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