I do not think we are seeing that many price cuts going ahead. So we could see expansion of the operating profit margins as well. And that in turn leads to higher return on capital employed and that in turn justifies higher price to earnings multiples.
Sugar stocks rally continues: Balrampur Chini, Dhampur Sugar, Uttam Sugar Mills rally up to 4%. Two big triggers
Sugar stocks rallied as domestic sugar prices surged sharply over the past month. Government data showed retail prices rising from Rs 48.18/kg on July 20