The Indian Government’s push for green energy and reducing the import bill incurred on Crude oil, has promoted the use of hybrid and flex fuel vehicles in the country. This has led to higher requirements of ethanol. Ethanol, which is derived from Sugarcane, has brought focus on the best sugar stocks in India 2023.
India stands among the top three in the world in highest sugar production. Moreover, Sugar industry is the second largest agro-based industry in our country.
Sugar export quota by the Government was increased to 60 lakh metric tonne (LMT) for the sugar season 2022–2023. Out of this quota, nearly 55 lakh tons of contracts for Sugar export have already been entered into so far till January 2023. This is a significant source of foreign currency into the country, helping to narrow the Current Account Deficit. Thus the Indian Government is encouraging these sugar exports.
Best Sugar Stocks in India 2023
Let us look at the list of some of the best sugar stocks in India, 2023, to help us decide which ones are good investment opportunities. We will make our decision based on financial ratios since we use Fundamental Analysis for long term investment decisions.
- Shree Renuka Sugars Ltd
- Triveni Engineering & Industries Ltd
- EID Parry (India) Ltd
- Balrampur Chini Mills Ltd
- Dalmia Bharat Sugar and Industries Ltd
Read More about in detail best Sugar Stocks in India 2023
Leave a Reply