KCP Sugar & Industries Corporation share witnesses positive trading day as share jumps to 14%

On the BSE, sugar companies’ shares increased by up to 14% during intraday trading on Thursday. Shares of Sakthi Sugars jumped 8.69% to Rs 39.40 per share, KCP Sugar & Industries Corp. saw a 14.05 percent increase in share price, Dalmia Bharat Sugar and Industries had a 7.48 percent increase in share price to Rs 434.45 per share and Dhampur Sugar Mills saw a 5.03 percent increase as well.

Others saw increases of 3.48 percent, 3.62%, 3.54% and 5%, respectively, at the Ravalgaon Sugar Farm, Balrampur Chini Mills, Prudential Sugar Corp, and Piccadily Sugar & Allied Industries. As a result, the BSE Sensex increased by 0.33 percent to 76,858 points.

As of 1:00 PM, KCP Sugar & Industries Corporation share jumps 14.19% to Rs.45.80 on NSE.

This happened after news emerged that the government is considering increasing the minimum selling price (MSP) of sugar for the forthcoming 2024-25 season, which begins on October 1st. A senior government official reportedly said that the change is likely to only affect the upcoming sugar season r and not the ongoing one.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.