Sugar stocks rises government increases import duty
DSIJ Intelligence / 11 Jul 2017
On Tuesday, the sugar stocks started their trade on a bullish mood as the government increased import duty on sugar to 50% from previous 40% to curb dumping of the commodity in India as international prices fell.
On Tuesday, the sugar stocks started their trade on a bullish mood as the government increased import duty on sugar to 50% from previous 40% to curb dumping of the commodity in India as international prices fell.
Rana Sugar soared 6.57% at Rs 9.73 per share, Shree Renuka Sugars soared 4.31% at Rs 15.74 per share, Sakhti Sugar soared 6.49% at Rs 32.00 per share, KCP Sugar & Industries Corporation soared 4% at Rs 33.80 per share, Mawana Sugar soared 2.89% at Rs 83.60 per share and Balrampur Chini Mills soared 2.09% at Rs 156.60 per share on BSE on the morning hours.
Meanwhile, BSE Sensex surged 67 points or 0.21% at 31,782 level and Nifty gained 20.80 or 0.21% at 9791 level on Tuesday’s intra-day trade.