NEW DELHI: Most sugar stocks traded with healthy gains in Thursday's session amid reports that the central government is mulling over framing new sugar export policy to reduce glut and address the concerns of the depressed sugar industry.
ETNow reported today that the PMO will work with Food Ministry on new sugar policy post the Budget and may decide on rolling out an export-linked subsidy scheme for sugar mills.
The new sugar policy will likely be rolled out from the next season, beginning October.
The report quoted government sources and said that the sugar mills will be required to maintain a buffer stock of 50 lakh tonne for any eventuality, which will cost nearly Rs 2,100 crore and will help lift sugar prices.
Following the report, shares of Rajshree Sugars & Chemicals (up 20 per cent), Avadh Sugar & Energy (up 9.99 per cent), Triveni Engineering & Industries (up 6.44 per cent) and Mawana Sugars (up 6.16 per cent) surged.
Shares of Simbhaoli Sugars (up 5.30 per cent), Dhampure Specialty Sugars (up 4.86 per cent), Parvati Sweetners (up 4.76 per cent), Ugar Sugar Works (up 4.66 per cent) and KCP Sugar & Industries (up 4.50 per cent) too logged healthy gains.
Balrampur Chini Mills (up 4.17 per cent), Read More – Source
[contf]
[contfnew]
ET Markets
[contfnewc]
[contfnewc]
