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

Monte Carlo shares fall 12% on debut

Shares of the company ended at Rs 566.25 compared to the issue price of Rs 645 per share on NSE

Tyre makers agree to help Kerala rubber farmers

Agreement brokered by state govternmet after appeal to major firms for support, will have latter buying from the local market at 25% extra ...

DGFT defers registration of organic textile exports

Industry welcomes the move, says organic products' exports would be possible now

Sebi bars 260 entities from markets

The action comes at a time when the central government has sharpened its focus on unearthing black money stashed abroad

Double digit earnings to cheer markets in FY16

Analysts expect earnings surprises from consumer discretionary, financial and industrial sectors

Back to Top