MUMBAI: Shares of sugar producers surged on the bourses on Tuesday on the back of rising prices of the commodity amid projections of a lower crop and closing stock for the 2015-16sugar season (October-September). Sakthi Sugars, Balrampur Chini Mills, Dhampur Sugar Mills, Dwarikesh Sugar Industries and Mawana Sugars were among the scrips that hit their 52-week highs on Tuesday. 

Dharani Sugars and Chemicals and Shree Renuka Sugars led the list of gainers with their scrips soaring 19.9 per cent and 19.2 per cent respectively. The counters of sugar companies also saw a spurt in volumes. About 5.9 lakh EID Parry shares were traded on Tuesday against the two-week average of 75,000 shares each day. While more than 1 crore shares of Renuka Sugars changed hands compared to an average 13.34 lakh in the last two weeks, 43.2 lakh Bajaj Hindusthan Sugar shares were traded against the two-week average of 9.69 lakh shares on the BSE. 

Incidentally, sugar firms saw their stock prices plunge to their 52-week lows only in August-September. The Bannari Amman Sugars scrip has more than doubled in value since touching its 52-week low on September 8. While the Bajaj Hindusthan stock has doubled from its yearly low hit on August 25, the Simbhaoli Sugars scrip has nearly trebled in value from its 52-week low touched on September 29.