Sugar stocks surge up to 14% despite market decline amid Iran war

Shares of Balrampur Chini Mills, Shree Renuka Sugars, and Bajaj Hindusthan Sugar witnessed a surge of 8.17%, 9.8%, and 14.52%, respectively, on Wednesday. CNBC-TV18 reported that the jump is due to the spike in global sugar prices, triggered by the crude oil price increase amid the war. Higher crude prices make ethanol production more profitable for sugar mills, Moneycontrol reported.