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

Banks' core competency is credit, not precious metals: Rajesh Khosla

Interview with Managing Director, MMTC-PAMP

Gold to bottom out on low inflationary concerns

Prices are set to average $1,270 an ounce this year, down from $1,410 in 2013

Today's picks- 18 September 2014

Nifty, Bank Nifty, L&T, Tata Motors & Hindustan Unilever

J&K's loss could be Himachal and Uttarakhand's gain

Failure of arrival of apple crop in market has firmed up prices of apples from two states

Sensex sees sharpest single-day gain post Modi win

The previous best single-day gain for the 30-share index (S&P BSE Sensex) was 556.77 points, or 2.27%, on May 12, 2014

Back to Top