Record high sugar prices sweeten sugar counters

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FOREIGN FUNDS NET SELL RS.463.89 CR IN EQUITIES ON NOVEMBER 20 (PROV)
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AKER IS A NORWEGIAN SERVICE PROVIDER CO FOR OIL AND GAS OPERATIONS
AKER SOLUTIONS TO PROVIDE SUPPORT SERVICES IN KG BASIN
AKER BAGGED SUB SEA PRODUCTION ORDER FROM RIL IN 2006 ALSO
RELIANCE IND PLACES RS.115 CR ORDER WITH NORWAY'S AKER SOLUTIONS
PORTING CHARGES TO BECOME APPLICABLE FROM DECEMBER 31, 2009
MNP ALLOWS USERS TO CHANGE OPERATORS WHILE RETAINING MOBILE NOS
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TRAI COMES OUT WITH NUMBER PORTABILITY CHARGES
PUNJAB NATIONAL BANK PLANS TO RAISE RS 700 CR BY SELLING BONDS
TATA TELE-QUIPPO OFFERING BETTER SERVICING DEAL FOR TOWERS: SOURCES
GTL BID 10-15% HIGHER THAN TATA-QUIPPO: SOURCES
DEAL VALUED AT AROUND RS.6000 CR : SOURCES
MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
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INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)

Updated: 04/11/2009 | 12:00 AM IST

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Wednesday, November 04, 2009 (New Delhi)

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Shree Renuka Sugars (up 3.07%), Bajaj Hindusthan Sugar and Industries (up 2.73%), Simbhaoli Sugar Mills (up 2.40%), DCM Shriram Industries (up 1.44%), EID Parry (India) (up 1.43%), and Balrampur Chini Mills (up 1.41%), rose.

Estimates of a deficit for the second straight year boosted sugar prices. The government said the worst annual monsoon rains in 37 years could lead to further imports of sugar going into 2010.

In Kolhapur, a key market in top sugar producer Maharashtra, the price of the most traded S-variety sugar jumped by 5.3% to Rs 3,353 per 100 kilogram, breaching its earlier peak of Rs 3,185 on Saturday, 31 October 2009.

Ashok Jain, president of the Bombay Sugar Merchants Association was quoted by the media as saying that millers have started raising quotes, anticipating lower production. Ex-mill prices have jumped significantly in last one week, he added.

India is likely to produce 16 million tonnes of sugar in 2009/10 and consume 22.5-23.0 million tonnes, Farm Minister Sharad Pawar said on Wednesday, 4 November 2009, at the annual Economic Editors Conference. He said that as at 1 October 2009, the start of the new sugar year, the government had sugar stocks of 2.2 million tonnes.

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