Triveni Engineering at new high

Triveni Engineering hit a new 52-week high today at Rs.85.40 and the mood on the counter remains very bullish.

The market is pretty happy with the news that L&T Mutual Fund has taken a 0.59% stake in the company, taking the total holding to 5.18%.

As such also sugar stocks are making merry, given the prospects of the sector. Yesterday, the price of sugar rose to a six-year high on the wholesale market and given the scenario where demand is expected to exceed supply, there is a lot of speculative buying by stockists and wholesale consumers. The lower output estimates by Indian Sugar Merchant Association (ISMA) has further sweetened things for the sugar companies.