As the year ends today, we take a look at some stocks that performed throughout the year. One such stock is Balrampur Chini Mills. Here's what led to the stock performing well this year:

The sugar sector hit a sweet spot after many years backed by various government incentives. As a result, sugar stocks clocked big gains in 2019 with sector leader Balrampur Chini Mills gaining over 80 percent this year and 20 percent in this month itself.

Higher sugar realisations on the back of an increase in minimum support price (MSP) from Rs 29 per kilogram to Rs 31 per kilogram offered support.

Increasing ethanol tenders from oil market companies (OMCs) led to ethanol revenues growing over 21 percent.

Cabinet approved incentives to boost exports to further reduce industry inventory at the time when global raw sugar prices are near 14-month high.

The sugar industry is expected to bring down its buffer stock to 10 million in 2020 and 7 million by 2021.

Also, sustainable sugar prices will help improve the cash flows for the companies.

The decline in sugar production by 35 percent so far will also help support the sugar prices. Going ahead, sugarcane diversion to B-Heavy ethanol and increase in blending rate of 7-8 percent will be other triggers along with commissioning of a new ethanol facility by the company last month.

Balrampur Chini Mills trades at 6 times premium compared to its peers.