Sugar stocks gain as government plans to initiate measures to improve supply
DSIJ Intelligence / 25 Jul 2017
The sugar stocks were buzzing on the bourses as the government plans to initiate measures to improve the supply of sugar and control the rising sugar prices.
A national daily reported that during Tuesday’s trade, the sugar stocks were buzzing on the bourses as the government plans to initiate measures to improve the supply of sugar and control the rising sugar prices.
Many parts of the country are facing a shortage of sugar, although sugar production in India is estimated to go up by 25-30% in the year 2017-18,. Earlier, in a bid to stimulate the sector and to control dumping of cheaper sugar from international suppliers, the government has hiked the import duty on sugar to 50%.
Meanwhile, at Rs 20.72, Shree Renuka Sugars Ltd. was the top gainer among sugar stocks and was trading up by 6.64% as of 1211 hours on Tuesday, on the BSE.
Among others, Rana Sugars, Dhampur Sugar Mills, Bajaj Hindusthan Sugar Ltd., Balrampur Chini Mills Ltd. were trading in the green territory.
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