5 Sugar Stocks have retraced as much as 60% from their 52-week highs

Since the Indian government (GoI) imposed an excise levy on sugar exports, sugar supplies have been in free fall for about a month. Relative to their individual 52-week highs, high-quality sugar stocks including Dhampur Sugar Mills, Mawana Sugars, Dwarikesh Sugar Industries, Shree Renuka Sugars, and EID Parry have had significant corrections.

The following 5 sugar stocks have been in base-building mode for a long time, so positional investors looking for stocks with good values may consider them.

Dhampur Sugar Mills: This sugar company’s shares are now trading on the NSE for 213.50 each, while their 52-week high is 584.50. Therefore, the current Dhampur Sugar share price is offered at a discount of more than 60%. The 52-week low of this sugar stock is 198.30, which means that it is only 15 cents higher than its 52-week lows.

Mawana Sugars: This sugar company’s share price is currently trading at 95.50 on the NSE, while its 52-week high is 179.70 per unit. Shares of Mawana Sugars have a 52-week low price of 59.55. Therefore, the sugar stock has declined by more than 45% from its 52-week high while selling at a price that is almost 46 percent higher than its 52-week low. It is one of the sugar stocks that will offer its owners a significant return following the start of the new year in 2022.

Dwarikesh Sugar Industries is one of the stocks that has provided excellent returns to its owners since the start of the year 2022. It has, nevertheless, undergone significant correction in recent sessions. Today’s share price for Dwarikesh Sugar is 95.80, while the 52-week high is 148.45. As a result, the price of this sugar stock is close to 35% below its 52-week high.

After rising to its 52-week high of 63.20 on the NSE in April of this year, Shree Renuka Sugars‘ sugar stock has undergone a significant correction. The current share price for Renuka Sugar is 44.60, which is almost 30% less than its 52-week high. This sugar stock is 46% higher YTD, despite a significant downturn.

Balrampur Chini: The share price of this company that produces sugar has experienced significant corrections recently. The share price of Balrampur Chini has decreased by around 13% during the past month, falling from about Rs. 413 to Rs. 357 per unit. The sugar stock’s 52-week high on the NSE was $525.90, meaning the company is currently 32% below that high.