ALSO READSugar stocks extend gain; Dhampur, Mawana Sugars hit 52-week highs Sugar shares extend gain; Dwarikesh Sugar, Dhampur Sugar hit 52-week high Dhampur Sugar, Balrampur Chini, Dwarikesh Sugar hit 52-week highs Sugar stocks in focus; Dhampur, Dwarikesh, Oudh Sugar up over 5% Sugar shares in focus; Dhampur Sugar, Uttam Sugar up over 5%
According to Business Standard report the central government is considering steps to protect the industry and farmers’ realizations as sugar production in India is estimated to go up 25-30% in the sugar year 2017-18.
“These include a rise in the import duty from the present 40%, a higher ethanol price for supplying to oil marketing companies (OMCs) and reviewing the goods and services tax (GST) rates for ethanol and molasses. The import duty rise could come anytime and be up to 20% higher, to ensure no more than the 500,000 tonnes of permitted import takes place,” added report. CLICK HERE TO READ FULL REPORT.
Shree Renuka Sugars has surged 20% at Rs 15.66 on BSE in intra-day trade on back of an over 10-fold jump in trading volumes. A combined 10.35 million shares have already changed hands on the counter on BSE and NSE. At 12:15 pm, the S&P BSE Sensex was down 0.12% at 31,332.
|UGAR SUGAR WORKS||29.30||25.60||14.5||213756|
|THIRU AROOR. SU.||63.00||56.60||11.3||5343|
|KM SUGAR MILLS||23.95||21.90||9.4||112706|
|KCP SUGAR &INDS.||33.20||30.75||8.0||117778|
|SIR SHADI LAL||111.70||106.05||5.3||2583|