Business Standard

FMC may lift ban on guar gum trading, Vikas WSP rallies

The futures trade in guar was banned in March after a ten-fold surge in prices on speculation

Related News

India’s only publicly traded producer of guar gum, Vikas WSP , has hit the upper circuit of 10% at Rs 43.50 on reports that the Forward Markets Commission (FMC) may decide on lifting the ban on guar futures trading by mid-August after assessing the sowing of the crop.

“National Commodity and Derivatives Exchange Ltd (NCDEX) has asked the regulator for permission to relist and guar seed futures,” reports suggest quoting R. Ramaseshan, CEO, NCDEX.

The futures trade in guar was banned in March after a ten-fold surge in prices on speculation.

Guar gum is extracted from guar seed, production of which is around on million tonnes in the country.  India is the world's biggest exporter of the commodity and accounts for 80% of the world's guar production.

The stock opened at Rs 39.90 and has frozen upper circuit in late noon trades on the Bombay Stock Exchange (BSE). Around 1.7 million shares have changed hands on the counter so far and there are pending buy orders for 268,535 shares on the BSE.

 

Read more on:   
|
|

Read More

Icra places 14 auto component makers under watch

Rating agency Icra today placed 14 auto component manufacturers on "rating watch with developing implications", following lockout at Maruti Suzuki's ...

Quick Links

 

Market News

Adani stocks led the way in Samvat 2070

Ambani brothers, JSPL the bottom three in market-cap growth

Raising the output key to Cairn India's prospects

With crude oil prices benign, increasing oil and gas production is crucial to drive growth

Biocon sees muted quarter, lacks immediate triggers

Reduced exports to West Asia & North Africa, capacity constraints affect sales

Exchanges plan stake sales in depository arms

NSE in talks with investors for offloading stake, BSE considering an IPO; to do so before April

Many listed firms had same auditors for over 10 yrs: IIAS

Proxy advisory body Institutional Investor Advisory Services India (IIAS) has called for periodic rotation of auditors and capping their tenure ...

Back to Top